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

Investment analysts at StockNews.com started coverage on shares of New Concept Energy (NYSE:GBR) in a note issued to investors on Sunday. The firm set a “sell” rating on the stock.

New Concept Energy Trading Down 2.6 %

GBR opened at $1.15 on Friday. The company’s 50 day moving average is $1.35 and its 200-day moving average is $1.33. New Concept Energy has a 1-year low of $0.95 and a 1-year high of $1.82. The company has a market cap of $5.90 million, a P/E ratio of -38.33 and a beta of 0.30.

New Concept Energy (NYSE:GBR) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $0.04 million during the quarter. New Concept Energy had a negative net margin of 18.62% and a negative return on equity of 0.59%.

Insiders Place Their Bets

In other New Concept Energy news, major shareholder Realty Advisors Inc sold 250,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $1.30, for a total transaction of $325,000.00. Following the sale, the insider now directly owns 1,144,934 shares of the company’s stock, valued at $1,488,414.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC boosted its position in New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 152,600 shares of the company’s stock after purchasing an additional 62,400 shares during the quarter. PFG Investments LLC owned approximately 2.97% of New Concept Energy worth $244,000 at the end of the most recent quarter.

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.