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

StockNews.com began coverage on shares of New Concept Energy (NYSE:GBR) in a research note issued to investors on Thursday. The firm issued a sell rating on the stock.

New Concept Energy Price Performance

GBR opened at $1.11 on Thursday. The company has a market capitalization of $5.69 million, a P/E ratio of -37.00 and a beta of 0.29. The firm’s fifty day moving average price is $1.18 and its two-hundred day moving average price is $1.33. New Concept Energy has a fifty-two week low of $0.95 and a fifty-two week high of $1.82.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC increased its stake in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,600 shares of the company’s stock after buying an additional 62,400 shares during the quarter. PFG Investments LLC owned 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.