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

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

New Concept Energy Price Performance

Shares of NYSE GBR opened at $1.18 on Friday. The firm’s 50-day moving average price is $1.20 and its 200-day moving average price is $1.35. New Concept Energy has a 52-week low of $0.95 and a 52-week high of $1.82. The company has a market cap of $6.03 million, a PE ratio of -38.67 and a beta of 0.30.

Institutional Investors Weigh In On New Concept Energy

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC increased its position in New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 152,600 shares of the company’s stock after acquiring an additional 62,400 shares during the period. PFG Investments LLC owned about 2.97% of New Concept Energy worth $244,000 at the end of the most recent reporting period.

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.