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

StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR) in a research report released on Sunday. The brokerage issued a sell rating on the stock.

New Concept Energy Trading Up 2.2 %

Shares of NYSE GBR opened at $1.18 on Friday. The stock has a market capitalization of $6.03 million, a PE ratio of -39.17 and a beta of 0.30. New Concept Energy has a 12-month low of $0.95 and a 12-month high of $1.82. The stock’s fifty day simple moving average is $1.20 and its two-hundred day simple moving average is $1.35.

Institutional Trading of New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC increased its position in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,600 shares of the company’s stock after acquiring 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 SEC filing.

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.