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

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

New Concept Energy Stock Up 2.2 %

GBR opened at $1.18 on Friday. The business has a fifty day moving average of $1.20 and a 200 day moving average of $1.35. The stock has a market cap of $6.03 million, a P/E ratio of -39.17 and a beta of 0.30. New Concept Energy has a 52-week low of $0.95 and a 52-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 raised its position in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 152,600 shares of the company’s stock after purchasing an additional 62,400 shares during the period. PFG Investments LLC owned about 2.97% of New Concept Energy worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

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.