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

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

New Concept Energy Price Performance

New Concept Energy stock opened at $1.21 on Friday. The firm has a 50-day moving average price of $1.20 and a two-hundred day moving average price of $1.35. New Concept Energy has a 52-week low of $0.95 and a 52-week high of $1.82.

New Concept Energy (NYSE:GBR) last posted its earnings results on Tuesday, August 13th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $0.04 million during the quarter. New Concept Energy had a negative net margin of 18.62% and a negative return on equity of 0.59%.

Insider Buying and Selling at New Concept Energy

In other New Concept Energy news, major shareholder Realty Advisors Inc sold 250,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 1,144,934 shares of the company’s stock, valued at $1,488,414.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of New Concept Energy

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

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.