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

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

New Concept Energy Stock Performance

NYSE:GBR opened at $1.19 on Tuesday. New Concept Energy has a 52 week low of $0.95 and a 52 week high of $1.82. The stock’s 50-day moving average price is $1.20 and its 200-day moving average price is $1.34.

Institutional Trading of New Concept Energy

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC grew its holdings in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

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.