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

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

New Concept Energy Trading Down 4.8 %

Shares of NYSE GBR opened at $1.19 on Friday. New Concept Energy has a 12 month low of $0.96 and a 12 month high of $1.82. The company has a 50 day simple moving average of $1.17 and a two-hundred day simple moving average of $1.29. The stock has a market cap of $6.11 million, a price-to-earnings ratio of -39.67 and a beta of 0.33.

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.