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

Investment analysts at StockNews.com started coverage on shares of New Concept Energy (NYSE:GBR) in a research note issued on Sunday. The brokerage set a “sell” rating on the stock.

New Concept Energy Trading Down 4.0 %

NYSE GBR opened at $1.44 on Friday. New Concept Energy has a 12-month low of $0.95 and a 12-month high of $1.82. The firm’s 50 day moving average is $1.54 and its 200-day moving average is $1.26.

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

Institutional Investors Weigh In On New Concept Energy

A hedge fund recently bought a new stake in New Concept Energy stock. PFG Investments LLC acquired a new position in shares of New Concept Energy, Inc. (NYSE:GBR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 90,200 shares of the company’s stock, valued at approximately $95,000.

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.