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 research note released on Monday. The firm issued a sell rating on the stock.

New Concept Energy Stock Performance

Shares of GBR opened at $1.10 on Monday. The company’s fifty day moving average is $1.06 and its 200 day moving average is $1.07. New Concept Energy has a fifty-two week low of $0.91 and a fifty-two week high of $1.67.

New Concept Energy (NYSE:GBR) last announced its quarterly earnings results on Monday, April 1st. The company reported ($0.04) earnings per share for the quarter. New Concept Energy had a negative return on equity of 0.46% and a negative net margin of 13.82%. The business had revenue of $0.04 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GBR. Virtu Financial LLC bought a new position in New Concept Energy during the first quarter valued at $95,000. Renaissance Technologies LLC bought a new position in New Concept Energy during the second quarter valued at $30,000. Finally, Millennium Management LLC increased its position in New Concept Energy by 129.4% during the fourth quarter. Millennium Management LLC now owns 24,068 shares of the company’s stock valued at $26,000 after acquiring an additional 13,576 shares during the last quarter.

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.