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

Analysts at StockNews.com started coverage on shares of New Concept Energy (NYSE:GBR) in a report issued on Friday. The brokerage set a “sell” rating on the stock.

New Concept Energy Trading Down 0.5 %

Shares of NYSE GBR opened at $1.16 on Friday. The company’s 50-day moving average price is $1.17 and its 200 day moving average price is $1.31. New Concept Energy has a 52 week low of $0.96 and a 52 week high of $1.82. The stock has a market cap of $5.95 million, a price-to-earnings ratio of -38.67 and a beta of 0.29.

Institutional Investors Weigh In On New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC raised its stake in New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,600 shares of the company’s stock after acquiring an additional 62,400 shares during the quarter. PFG Investments LLC owned approximately 2.97% of New Concept Energy worth $244,000 at the end of the most recent quarter.

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.