New Concept Energy (NYSE:GBR) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com started coverage on shares of New Concept Energy (NYSE:GBR) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the stock.

New Concept Energy Stock Performance

NYSE:GBR opened at $1.19 on Thursday. The firm has a fifty day simple moving average of $1.22 and a two-hundred day simple moving average of $1.35. New Concept Energy has a 12 month low of $0.95 and a 12 month high of $1.82.

New Concept Energy (NYSE:GBR) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.01 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%.

Insiders Place Their Bets

In other New Concept Energy 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 value of $325,000.00. Following the completion of the sale, the insider now directly owns 1,144,934 shares in the company, valued at approximately $1,488,414.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC raised its holdings in New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 152,600 shares of the company’s stock after buying an additional 62,400 shares during the period. 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.

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.