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

StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR) in a research note released on Saturday. The brokerage issued a sell rating on the stock.

New Concept Energy Trading Up 1.6 %

Shares of NYSE GBR opened at $1.23 on Friday. The company’s 50-day simple moving average is $1.19 and its 200-day simple moving average is $1.35. New Concept Energy has a 52-week low of $0.95 and a 52-week high of $1.82.

New Concept Energy (NYSE:GBR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 earnings per share (EPS) 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 Buying and Selling

In other New Concept Energy news, major shareholder Realty Advisors Inc sold 250,000 shares of the firm’s stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

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.