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

StockNews.com began coverage on shares of New Concept Energy (NYSE:GBR) in a report released on Tuesday. The brokerage set a “sell” rating on the stock.

New Concept Energy Price Performance

GBR opened at $1.47 on Tuesday. The firm has a 50 day moving average price of $1.33 and a 200 day moving average price of $1.14. New Concept Energy has a 1 year low of $0.95 and a 1 year high of $1.81.

New Concept Energy (NYSE:GBR) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $0.04 million during the quarter. New Concept Energy had a negative return on equity of 0.79% and a negative net margin of 25.17%.

Hedge Funds Weigh In On New Concept Energy

An institutional investor recently bought a new position in New Concept Energy stock. PFG Investments LLC bought a new position in New Concept Energy, Inc. (NYSE:GBR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 90,200 shares of the company’s stock, valued at approximately $95,000.

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.