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

Analysts at StockNews.com began coverage on shares of New Concept Energy (NYSE:GBR) in a research note issued on Monday. The firm set a “sell” rating on the stock.

New Concept Energy Trading Up 3.4 %

NYSE GBR opened at $1.22 on Monday. The stock has a market cap of $6.26 million, a PE ratio of -39.33 and a beta of 0.30. New Concept Energy has a 12 month low of $0.95 and a 12 month high of $1.82. The company’s 50-day moving average price is $1.20 and its 200-day moving average price is $1.35.

Hedge Funds Weigh In On New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC lifted its stake in New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. 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 about 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.