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

StockNews.com assumed coverage on shares of New Concept Energy (NYSE:GBR) in a research note issued on Sunday. The brokerage set a “sell” rating on the stock.

New Concept Energy Trading Up 0.9 %

Shares of New Concept Energy stock opened at $1.16 on Friday. New Concept Energy has a 12 month low of $0.95 and a 12 month high of $1.82. The firm has a market capitalization of $5.95 million, a P/E ratio of -38.67 and a beta of 0.30. The business has a fifty day simple moving average of $1.34 and a two-hundred day simple moving average of $1.33.

New Concept Energy (NYSE:GBR) last released 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 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 of the company’s stock, valued at approximately $1,488,414.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Trading of New Concept Energy

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC raised its stake in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,600 shares of the company’s stock after buying 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 Securities and Exchange Commission (SEC).

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.