New Concept Energy (NYSE:GBR) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of New Concept Energy (NYSE:GBR) in a report published on Friday. The brokerage issued a sell rating on the stock.

New Concept Energy Stock Down 0.5 %

GBR opened at $1.16 on Friday. New Concept Energy has a 52-week low of $0.96 and a 52-week high of $1.82. The firm has a market capitalization of $5.95 million, a P/E ratio of -38.67 and a beta of 0.29. The firm’s 50 day moving average is $1.18 and its 200-day moving average is $1.31.

Institutional Inflows and Outflows

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC increased its holdings in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,600 shares of the company’s stock after buying an additional 62,400 shares during the quarter. PFG Investments LLC owned 2.97% of New Concept Energy worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

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.