StockNews.com Initiates Coverage on New Concept Energy (NYSE:GBR)

Posted by ABMN Staff on Nov 26th, 2024

StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR – Free Report) in a research report sent to investors on Monday morning. The brokerage issued a sell rating on the stock.

New Concept Energy Stock Performance

Shares of GBR opened at $1.18 on Monday. The firm’s 50-day simple moving average is $1.20 and its two-hundred day simple moving average is $1.35. New Concept Energy has a fifty-two week low of $0.95 and a fifty-two week high of $1.82.

Institutional Trading of New Concept Energy

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC grew its position in shares of New Concept Energy, Inc. (NYSE:GBR – Free Report) by 69.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,600 shares of the company’s stock after buying an additional 62,400 shares during the quarter. PFG Investments LLC owned 2.97% of New Concept Energy worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About New Concept Energy

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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.