New Concept Energy (NYSE:GBR) Now Covered by StockNews.com

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

New Concept Energy Stock Performance

Shares of GBR opened at $1.18 on Friday. New Concept Energy has a 12-month low of $0.95 and a 12-month high of $1.82. The business’s fifty day moving average price is $1.20 and its 200 day moving average price is $1.35.

Hedge Funds Weigh In On New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC increased its stake in New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,600 shares of the company’s stock after acquiring an additional 62,400 shares during the period. PFG Investments LLC owned approximately 2.97% of New Concept Energy worth $244,000 at the end of the most recent reporting period.

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.