New Concept Energy (NYSE:GBR) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR) in a report issued on Monday. The brokerage issued a sell rating on the stock.

New Concept Energy Price Performance

Shares of GBR opened at $1.10 on Monday. The firm has a fifty day simple moving average of $1.06 and a two-hundred day simple moving average of $1.07. New Concept Energy has a twelve month low of $0.91 and a twelve month high of $1.67.

New Concept Energy (NYSE:GBR) last posted its earnings results on Monday, April 1st. The company reported ($0.04) EPS for the quarter. New Concept Energy had a negative return on equity of 0.46% and a negative net margin of 13.82%. The company had revenue of $0.04 million during the quarter.

Institutional Investors Weigh In On New Concept Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC lifted its position in shares of New Concept Energy by 129.4% in the 4th quarter. Millennium Management LLC now owns 24,068 shares of the company’s stock worth $26,000 after purchasing an additional 13,576 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of New Concept Energy in the 2nd quarter worth about $30,000. Finally, Virtu Financial LLC bought a new position in shares of New Concept Energy in the 1st quarter worth about $95,000.

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.