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 issued to clients and investors on Thursday. The brokerage set a “sell” rating on the stock.

New Concept Energy Price Performance

Shares of NYSE:GBR opened at $1.19 on Thursday. The firm has a 50 day simple moving average of $1.22 and a 200 day simple moving average of $1.35. New Concept Energy has a one year low of $0.95 and a one year high of $1.82.

New Concept Energy (NYSE:GBR) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 EPS for the quarter. The business had revenue of $0.04 million during the quarter. New Concept Energy had a negative net margin of 18.62% and a negative return on equity of 0.59%.

Insider Activity

In other news, major shareholder Realty Advisors Inc sold 250,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1.30, for a total transaction 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 approximately $1,488,414.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC lifted 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 Form 13F filing with the Securities & Exchange Commission. 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 about 2.97% of New Concept Energy worth $244,000 at the end of the most recent reporting period.

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.