StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR – Free Report) in a research note issued to investors on Friday. The firm issued a sell rating on the stock.
New Concept Energy Stock Down 0.5 %
Shares of GBR stock opened at $1.16 on Friday. New Concept Energy has a 12 month low of $0.96 and a 12 month high of $1.82. The stock has a 50 day moving average of $1.18 and a 200-day moving average of $1.31. The firm has a market cap of $5.95 million, a PE ratio of -38.67 and a beta of 0.29.
Institutional Trading of New Concept Energy
An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC increased its stake in shares of New Concept Energy, Inc. (NYSE:GBR – Free Report) by 69.2% in 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 at the end of the most recent reporting period.
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.
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