New Concept Energy (NYSE:GBR) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR) in a research note issued on Monday. The brokerage set a “sell” rating on the stock.

New Concept Energy Stock Down 0.9 %

Shares of New Concept Energy stock opened at $1.14 on Monday. The stock has a market capitalization of $5.85 million, a P/E ratio of -38.00 and a beta of 0.30. The stock has a 50 day moving average price of $1.30 and a two-hundred day moving average price of $1.33. New Concept Energy has a 12-month low of $0.95 and a 12-month high of $1.82.

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

Insider Activity

In other New Concept Energy news, major shareholder Realty Advisors Inc sold 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 approximately $1,488,414.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company’s stock.

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 position 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 and Exchange Commission. The fund 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 and 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.