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

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

New Concept Energy Trading Up 10.6 %

NYSE GBR opened at $1.27 on Monday. New Concept Energy has a 1-year low of $0.95 and a 1-year high of $1.82. The stock’s 50 day moving average is $1.29 and its two-hundred day moving average is $1.34. The company has a market capitalization of $6.53 million, a price-to-earnings ratio of -44.20 and a beta of 0.30.

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

Insiders Place Their Bets

In other news, major shareholder Realty Advisors Inc sold 250,000 shares of the firm’s stock in a transaction on 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 owns 1,144,934 shares of the company’s stock, valued at $1,488,414.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.10% of the company’s stock.

Institutional Trading of New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC boosted its position 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 quarter. PFG Investments LLC owned about 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.