StockNews.com Initiates Coverage on New Concept Energy (NYSE:GBR)

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

New Concept Energy Price Performance

GBR opened at $1.18 on Friday. The company’s 50 day simple moving average is $1.33 and its two-hundred day simple moving average is $1.33. New Concept Energy has a 1-year low of $0.95 and a 1-year high of $1.82. The firm has a market capitalization of $6.05 million, a price-to-earnings ratio of -39.33 and a beta of 0.30.

New Concept Energy (NYSE:GBR) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.01 earnings per share (EPS) for the quarter. The business 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 Activity at New Concept Energy

In related news, major shareholder Realty Advisors Inc sold 250,000 shares of New Concept Energy stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $1.30, for a total value of $325,000.00. Following the completion of the sale, the insider now owns 1,144,934 shares in the company, valued at approximately $1,488,414.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On New Concept Energy

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC boosted its holdings in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the 2nd quarter, according to its most recent 13F filing with the 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 approximately 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.