StockNews.com Begins Coverage on New Concept Energy (NYSE:GBR)

StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR) in a research note published on Wednesday morning. The brokerage issued a sell rating on the stock.

New Concept Energy Stock Down 3.0 %

GBR stock opened at $1.28 on Wednesday. The firm has a market cap of $6.57 million, a price-to-earnings ratio of -42.67 and a beta of 0.34. The company’s fifty day simple moving average is $1.52 and its 200 day simple moving average is $1.30. New Concept Energy has a 12-month low of $0.95 and a 12-month high of $1.82.

New Concept Energy (NYSE:GBR) last announced its earnings results on Tuesday, August 13th. The company reported $0.01 EPS for the quarter. The company had revenue of $0.04 million for the quarter. New Concept Energy had a negative return on equity of 0.79% and a negative net margin of 25.17%.

Insider Activity

In other New Concept Energy news, major shareholder Realty Advisors Inc sold 250,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On New Concept Energy

An institutional investor recently bought a new position in New Concept Energy stock. PFG Investments LLC acquired a new position in shares of New Concept Energy, Inc. (NYSE:GBR) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 90,200 shares of the company’s stock, valued at approximately $95,000.

New Concept Energy Company Profile

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.