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

Posted by Tyrone Williams on Jul 29th, 2024

Stock analysts at StockNews.com assumed coverage on shares of New Concept Energy (NYSE:GBR – Get Free Report) in a research note issued on Sunday. The firm set a “sell” rating on the stock.

New Concept Energy Price Performance

Shares of NYSE:GBR opened at $1.44 on Friday. The stock’s 50-day moving average price is $1.54 and its two-hundred day moving average price is $1.26. 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 released its quarterly earnings data on Thursday, May 9th. The company reported $0.01 earnings per share for the quarter. The business 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%.

Hedge Funds Weigh In On New Concept Energy

An institutional investor recently bought a new position in New Concept Energy stock. PFG Investments LLC bought a new stake in shares of New Concept Energy, Inc. (NYSE:GBR – Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 90,200 shares of the company’s stock, valued at approximately $95,000.

New Concept Energy Company Profile

(Get Free Report)

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.