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

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

New Concept Energy Stock Performance

New Concept Energy stock opened at $1.15 on Friday. New Concept Energy has a one year low of $0.95 and a one year high of $1.82. The stock has a fifty day moving average of $1.46 and a 200 day moving average of $1.32. The stock has a market cap of $5.90 million, a PE ratio of -38.33 and a beta of 0.30.

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

Insider Transactions at New Concept Energy

In other news, major shareholder Realty Advisors Inc sold 250,000 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 1,144,934 shares of the company’s stock, valued at approximately $1,488,414.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC boosted its position in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 152,600 shares of the company’s stock after acquiring an additional 62,400 shares during the period. PFG Investments LLC owned 2.97% of New Concept Energy worth $244,000 at the end of the most recent quarter.

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.