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

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

New Concept Energy Stock Performance

GBR stock opened at $1.16 on Friday. The company’s fifty day moving average price is $1.17 and its 200-day moving average price is $1.30. New Concept Energy has a one year low of $0.96 and a one year high of $1.82. The company has a market capitalization of $5.95 million, a PE ratio of -38.67 and a beta of 0.33.

Institutional Investors Weigh In On New Concept Energy

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC boosted its holdings in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,600 shares of the company’s stock after buying an additional 62,400 shares during the quarter. 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.