New Concept Energy (NYSE:GBR) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of New Concept Energy (NYSE:GBR) in a report released on Thursday. The firm issued a sell rating on the stock.

New Concept Energy Stock Up 0.9 %

Shares of NYSE:GBR opened at $1.17 on Thursday. The firm’s 50 day simple moving average is $1.22 and its 200-day simple moving average is $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 released its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 EPS for the quarter. The company had revenue of $0.04 million for the quarter. New Concept Energy had a negative return on equity of 0.59% and a negative net margin of 18.62%.

Insider Activity at New Concept Energy

In other New Concept Energy news, major shareholder Realty Advisors Inc sold 250,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $1.30, for a total transaction of $325,000.00. Following the transaction, the insider now directly owns 1,144,934 shares in the company, valued at $1,488,414.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC raised its stake in New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,600 shares of the company’s stock after purchasing an additional 62,400 shares during the period. PFG Investments LLC owned 2.97% of New Concept Energy worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.