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

StockNews.com assumed coverage on shares of New Concept Energy (NYSE:GBR) in a report issued on Wednesday. The brokerage set a “sell” rating on the stock.

New Concept Energy Price Performance

New Concept Energy stock opened at $1.26 on Wednesday. The stock has a market cap of $6.46 million, a PE ratio of -42.00 and a beta of 0.31. The stock’s fifty day moving average is $1.18 and its two-hundred day moving average is $1.23. New Concept Energy has a 1-year low of $0.96 and a 1-year 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.