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

Research analysts at StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR) in a report released on Monday. The firm set a “sell” rating on the stock.

New Concept Energy Stock Down 0.9 %

Shares of NYSE:GBR opened at $1.14 on Monday. New Concept Energy has a twelve month low of $0.95 and a twelve month high of $1.82. The stock’s 50 day moving average is $1.30 and its 200-day moving average is $1.33. The firm has a market capitalization of $5.85 million, a price-to-earnings ratio of -38.00 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 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 Buying and Selling at New Concept Energy

In other New Concept Energy news, major shareholder Realty Advisors Inc sold 250,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $1.30, for a total value of $325,000.00. Following the sale, the insider now owns 1,144,934 shares of the company’s stock, valued at approximately $1,488,414.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On New Concept Energy

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC lifted its position in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,600 shares of the company’s stock after purchasing an additional 62,400 shares during the quarter. PFG Investments LLC owned about 2.97% of New Concept Energy worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

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.