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

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

New Concept Energy Stock Up 1.3 %

Shares of NYSE:GBR opened at $1.19 on Friday. New Concept Energy has a twelve month low of $0.95 and a twelve month high of $1.82. The stock’s 50 day moving average is $1.20 and its 200-day moving average is $1.35.

Institutional Trading of New Concept Energy

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC increased its stake in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the 2nd quarter, according to its most recent Form 13F filing 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 quarter. PFG Investments LLC owned 2.97% of New Concept Energy worth $244,000 at the end of the most recent quarter.

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.