New Concept Energy (NYSE:GBR) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of New Concept Energy (NYSE:GBR) in a report issued on Monday morning. The firm issued a sell rating on the stock.

New Concept Energy Trading Down 3.3 %

Shares of New Concept Energy stock opened at $1.18 on Monday. New Concept Energy has a 12 month low of $0.95 and a 12 month high of $1.82. The business’s 50-day moving average price is $1.20 and its 200-day moving average price is $1.35.

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% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 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.