StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR – Get Free Report) in a research report issued on Monday. The firm set a “sell” rating on the stock.
New Concept Energy Stock Up 1.7 %
Shares of GBR opened at $1.22 on Monday. New Concept Energy has a 52-week low of $0.95 and a 52-week high of $1.82. The firm’s fifty day moving average is $1.20 and its two-hundred day moving average is $1.35.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC lifted its stake in New Concept Energy, Inc. (NYSE:GBR – Free Report) by 69.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.
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.
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