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

StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR) in a research report sent to investors on Tuesday morning. The brokerage issued a sell rating on the stock.

New Concept Energy Stock Down 1.6 %

Shares of NYSE GBR opened at $1.21 on Tuesday. New Concept Energy has a fifty-two week low of $0.95 and a fifty-two week high of $1.82. The business has a fifty day moving average price of $1.26 and a two-hundred day moving average price of $1.35.

New Concept Energy (NYSE:GBR) last released 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 during the quarter. New Concept Energy had a negative return on equity of 0.59% and a negative net margin of 18.62%.

Insider Activity

In related news, major shareholder Realty Advisors Inc sold 250,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $1.30, for a total value of $325,000.00. Following the completion of the sale, the insider now directly owns 1,144,934 shares in the company, valued at $1,488,414.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On New Concept Energy

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC lifted its holdings in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 152,600 shares of the company’s stock after acquiring an additional 62,400 shares during the period. 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.