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

StockNews.com started coverage on shares of New Concept Energy (NYSE:GBR) in a research note issued to investors on Tuesday. The brokerage issued a sell rating on the stock.

New Concept Energy Trading Down 2.5 %

New Concept Energy stock opened at $1.14 on Tuesday. New Concept Energy has a 12-month low of $0.95 and a 12-month high of $1.82. The firm has a 50 day simple moving average of $1.19 and a 200-day simple moving average of $1.34.

Institutional Trading of New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC increased its position in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 quarter.

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.