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

StockNews.com started coverage on shares of New Concept Energy (NYSE:GBRGet Free Report) in a report released on Sunday. The firm set a “sell” rating on the stock.

New Concept Energy Stock Performance

Shares of New Concept Energy stock opened at $1.03 on Friday. The company’s 50 day moving average is $1.02 and its 200 day moving average is $1.09. New Concept Energy has a twelve month low of $0.91 and a twelve month high of $1.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in New Concept Energy during the first quarter valued at approximately $95,000. Renaissance Technologies LLC purchased a new stake in New Concept Energy during the second quarter valued at approximately $30,000. Finally, Millennium Management LLC increased its holdings in New Concept Energy by 129.4% during the fourth quarter. Millennium Management LLC now owns 24,068 shares of the company’s stock valued at $26,000 after buying an additional 13,576 shares during the last quarter.

About New Concept Energy

(Get Free Report)

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.

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