StockNews.com started coverage on shares of New Concept Energy (NYSE:GBR – Free Report) in a report released on Wednesday morning. The brokerage issued a sell rating on the stock.
New Concept Energy Trading Down 0.6 %
NYSE:GBR opened at $1.20 on Wednesday. The company has a 50-day moving average price of $1.25 and a 200-day moving average price of $1.35. The stock has a market cap of $6.16 million, a price-to-earnings ratio of -40.00 and a beta of 0.30. New Concept Energy has a 12 month low of $0.95 and a 12 month high of $1.82.
New Concept Energy (NYSE:GBR – Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 earnings per share for the quarter. New Concept Energy had a negative return on equity of 0.59% and a negative net margin of 18.62%. The business had revenue of $0.04 million for the quarter.
Insider Buying and Selling
Hedge Funds Weigh In On New Concept Energy
An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC raised its stake in shares of New Concept Energy, Inc. (NYSE:GBR – Free Report) by 69.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 152,600 shares of the company’s stock after buying an additional 62,400 shares during the quarter. PFG Investments LLC owned about 2.97% of New Concept Energy worth $244,000 at the end of the most recent quarter.
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.
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