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

Research analysts at StockNews.com assumed coverage on shares of New Concept Energy (NYSE:GBR) in a research report issued on Friday. The firm set a “sell” rating on the stock.

New Concept Energy Stock Performance

Shares of GBR opened at $1.16 on Friday. New Concept Energy has a 1 year low of $0.96 and a 1 year high of $1.82. The company’s 50 day simple moving average is $1.17 and its 200 day simple moving average is $1.31. The company has a market capitalization of $5.95 million, a price-to-earnings ratio of -38.67 and a beta of 0.29.

Institutional Investors Weigh In On New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC increased its stake in New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund 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 as of its most recent SEC filing.

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.