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

StockNews.com began coverage on shares of New Concept Energy (NYSE:GBR) in a research report report published on Saturday. The firm issued a sell rating on the stock.

New Concept Energy Stock Performance

NYSE:GBR opened at $1.22 on Friday. The business has a 50 day moving average of $1.20 and a 200 day moving average of $1.35. New Concept Energy has a 1-year low of $0.95 and a 1-year high of $1.82.

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 during the quarter. New Concept Energy had a negative return on equity of 0.59% and a negative net margin of 18.62%.

Insider Buying and Selling at New Concept Energy

In other New Concept Energy news, major shareholder Realty Advisors Inc sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 owns 1,144,934 shares in the company, valued at approximately $1,488,414.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of New Concept Energy

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC raised its stake in New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the 2nd quarter, according to 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 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.