New Concept Energy (NYSE:GBR) Research Coverage Started at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR) in a research report issued on Sunday. The brokerage set a “sell” rating on the stock.

New Concept Energy Stock Performance

GBR stock opened at $1.16 on Friday. The firm has a market cap of $5.95 million, a PE ratio of -38.67 and a beta of 0.30. The firm has a fifty day moving average price of $1.34 and a 200 day moving average price of $1.33. New Concept Energy has a fifty-two week low of $0.95 and a fifty-two week high of $1.82.

New Concept Energy (NYSE:GBR) last posted its earnings results on Tuesday, August 13th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $0.04 million for the quarter. New Concept Energy had a negative net margin of 18.62% and a negative return on equity of 0.59%.

Insider Activity at New Concept Energy

In related news, major shareholder Realty Advisors Inc sold 250,000 shares of New Concept Energy stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $1.30, for a total transaction of $325,000.00. Following the completion of the transaction, the insider now directly owns 1,144,934 shares of the company’s stock, valued at approximately $1,488,414.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC lifted its stake in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,600 shares of the company’s stock after acquiring an additional 62,400 shares during the quarter. PFG Investments LLC owned approximately 2.97% of New Concept Energy worth $244,000 at the end of the most recent reporting period.

About New Concept Energy

New Concept Energy, Inc engages in real estate rental business. The company owns approximately 190 acres of land located in Parkersburg West Virginia. It also provides advisory and management services for an independent oil and gas company. The company was formerly known as CabelTel International Corporation and changed its name to New Concept Energy, Inc in May 2008.