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

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

New Concept Energy Price Performance

Shares of GBR opened at $1.18 on Tuesday. The firm has a market capitalization of $6.05 million, a price-to-earnings ratio of -39.33 and a beta of 0.33. New Concept Energy has a 1-year low of $0.96 and a 1-year high of $1.82. The company has a 50-day moving average of $1.18 and a 200 day moving average of $1.24.

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.