StockNews.com Initiates Coverage on New Concept Energy (NYSE:GBR)

Stock analysts at StockNews.com started coverage on shares of New Concept Energy (NYSE:GBR) in a research report issued on Thursday. The brokerage set a “sell” rating on the stock.

New Concept Energy Stock Down 4.4 %

Shares of New Concept Energy stock opened at $1.08 on Thursday. New Concept Energy has a twelve month low of $0.95 and a twelve month high of $1.82. The business has a 50-day moving average price of $1.18 and a 200-day moving average price of $1.33. The firm has a market cap of $5.54 million, a price-to-earnings ratio of -36.00 and a beta of 0.29.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC raised its holdings in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 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.