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

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

New Concept Energy Stock Performance

NYSE:GBR opened at $1.29 on Monday. The company has a market capitalization of $6.62 million, a P/E ratio of -40.33 and a beta of 0.30. The stock’s 50 day moving average price is $1.28 and its 200 day moving average price is $1.34. New Concept Energy has a 52 week low of $0.95 and a 52 week high of $1.82.

New Concept Energy (NYSE:GBR) last issued its quarterly earnings data 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

In other news, major shareholder Realty Advisors Inc sold 250,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 directly owns 1,144,934 shares in the company, valued at $1,488,414.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by insiders.

Institutional Trading of New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC raised its holdings in New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the 2nd quarter, according to the company in 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 approximately 2.97% of New Concept Energy worth $244,000 as of its most recent SEC filing.

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.