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

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

New Concept Energy Stock Performance

NYSE:GBR opened at $1.23 on Friday. New Concept Energy has a 52 week low of $0.95 and a 52 week high of $1.82. The stock’s fifty day moving average is $1.19 and its two-hundred day moving average is $1.35.

New Concept Energy (NYSE:GBR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm 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 Buying and Selling

In other New Concept Energy news, major shareholder Realty Advisors Inc sold 250,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 1,144,934 shares of the company’s stock, valued at $1,488,414.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC boosted its position 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 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 2.97% of New Concept Energy worth $244,000 at the end of the most recent quarter.

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.