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

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

New Concept Energy Trading Down 1.6 %

GBR opened at $1.21 on Friday. New Concept Energy has a 12-month low of $0.95 and a 12-month high of $1.82. The stock has a 50-day moving average price of $1.20 and a 200-day moving average price of $1.35.

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

Insider Buying and Selling at New Concept Energy

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC boosted 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 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,600 shares of the company’s stock after buying an additional 62,400 shares during the period. 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.