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

StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR) in a research report sent to investors on Thursday morning. The brokerage issued a sell rating on the stock.

New Concept Energy Trading Up 2.8 %

New Concept Energy stock opened at $1.11 on Thursday. The company has a market capitalization of $5.69 million, a P/E ratio of -37.00 and a beta of 0.29. New Concept Energy has a 1-year low of $0.95 and a 1-year high of $1.82. The firm’s fifty day simple moving average is $1.18 and its 200-day simple moving average is $1.33.

Hedge Funds Weigh In On 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% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 152,600 shares of the company’s stock after purchasing an additional 62,400 shares during the quarter. PFG Investments LLC owned 2.97% of New Concept Energy worth $244,000 as of its most recent filing with the SEC.

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.