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

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

New Concept Energy Stock Performance

Shares of NYSE GBR opened at $0.96 on Tuesday. The stock has a market cap of $4.93 million, a price-to-earnings ratio of -32.00 and a beta of 0.22. The company has a 50 day simple moving average of $1.11 and a two-hundred day simple moving average of $1.16. New Concept Energy has a 12 month low of $0.84 and a 12 month high of $1.82.

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.