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

StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR) in a research note published on Friday morning. The firm issued a sell rating on the stock.

New Concept Energy Price Performance

Shares of GBR traded down $0.02 during mid-day trading on Friday, reaching $1.21. The company’s stock had a trading volume of 5,962 shares, compared to its average volume of 45,424. New Concept Energy has a 1 year low of $0.95 and a 1 year high of $1.82. The business has a fifty day moving average of $1.20 and a 200 day moving average of $1.35.

New Concept Energy (NYSE:GBR) last released its earnings results on Tuesday, August 13th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $0.04 million for the quarter. New Concept Energy had a negative return on equity of 0.59% and a negative net margin of 18.62%.

Insider Activity

In related news, major shareholder Realty Advisors Inc sold 250,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1.30, for a total value of $325,000.00. Following the completion of the sale, the insider now directly owns 1,144,934 shares in the company, valued at approximately $1,488,414.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC grew its holdings in New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. 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 about 2.97% of New Concept Energy worth $244,000 as of its most recent filing with the SEC.

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.