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

Equities researchers at StockNews.com assumed coverage on shares of New Concept Energy (NYSE:GBR) in a report issued on Monday. The firm set a “sell” rating on the stock.

New Concept Energy Trading Down 6.3 %

GBR stock opened at $0.86 on Monday. New Concept Energy has a 12-month low of $0.86 and a 12-month high of $1.82. The stock has a market capitalization of $4.43 million, a PE ratio of -28.75 and a beta of 0.22. The stock’s 50 day simple moving average is $1.15 and its 200 day simple moving average is $1.17.

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.