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 note issued to investors on Saturday. The firm set a “sell” rating on the stock.

New Concept Energy Stock Performance

NYSE:GBR opened at $1.19 on Friday. The company’s fifty day moving average price is $1.20 and its 200-day moving average price is $1.35. New Concept Energy has a 1-year low of $0.95 and a 1-year high of $1.82.

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

Insider Activity at New Concept Energy

In other news, major shareholder Realty Advisors Inc sold 250,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was 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 in the company, valued at $1,488,414.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On New Concept Energy

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC lifted its stake in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,600 shares of the company’s stock after purchasing an additional 62,400 shares during the period. PFG Investments LLC owned about 2.97% of New Concept Energy worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

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.