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

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

New Concept Energy Stock Performance

Shares of New Concept Energy stock opened at $1.08 on Friday. The firm has a 50-day moving average of $1.17 and a 200-day moving average of $1.18. New Concept Energy has a 52-week low of $1.01 and a 52-week high of $1.82. The stock has a market cap of $5.54 million, a PE ratio of -36.00 and a beta of 0.22.

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.