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

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

New Concept Energy Trading Down 0.8 %

Shares of NYSE GBR opened at $1.19 on Wednesday. The stock has a 50 day moving average of $1.25 and a 200-day moving average of $1.35. New Concept Energy has a 12 month low of $0.95 and a 12 month high of $1.82. The company has a market capitalization of $6.10 million, a P/E ratio of -39.67 and a beta of 0.30.

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

Insider Transactions at New Concept Energy

In related news, major shareholder Realty Advisors Inc sold 250,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $1.30, for a total transaction of $325,000.00. Following the sale, the insider now owns 1,144,934 shares in the company, valued at approximately $1,488,414.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC increased its stake in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 approximately 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.