New Concept Energy (NYSE:GBR) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of New Concept Energy (NYSE:GBR) in a research report issued to clients and investors on Saturday. The firm set a “sell” rating on the stock.

New Concept Energy Stock Up 1.3 %

NYSE GBR opened at $1.21 on Friday. New Concept Energy has a 52 week low of $0.95 and a 52 week high of $1.82. The company has a 50-day moving average price of $1.41 and a 200-day moving average price of $1.32.

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

Insiders Place Their Bets

In other New Concept Energy news, major shareholder Realty Advisors Inc sold 250,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $1.30, for a total value of $325,000.00. Following the completion of the transaction, the insider now directly owns 1,144,934 shares in the company, valued at approximately $1,488,414.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC grew its position in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 152,600 shares of the company’s stock after acquiring an additional 62,400 shares during the quarter. PFG Investments LLC owned about 2.97% of New Concept Energy worth $244,000 at the end of the most recent reporting period.

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.