StockNews.com Begins Coverage on New Concept Energy (NYSE:GBR)

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

New Concept Energy Stock Performance

GBR opened at $1.18 on Friday. The stock has a market cap of $6.05 million, a price-to-earnings ratio of -39.33 and a beta of 0.30. The firm’s fifty day moving average is $1.33 and its 200 day moving average is $1.33. New Concept Energy has a fifty-two week low of $0.95 and a fifty-two week high of $1.82.

New Concept Energy (NYSE:GBR) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 earnings per share for the quarter. New Concept Energy had a negative return on equity of 0.59% and a negative net margin of 18.62%. The firm had revenue of $0.04 million during the quarter.

Insider Buying and Selling at New Concept Energy

In other New Concept Energy news, major shareholder Realty Advisors Inc sold 250,000 shares of New Concept Energy 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 sale, the insider now directly owns 1,144,934 shares in the company, valued at approximately $1,488,414.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Trading of New Concept Energy

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC boosted its stake in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,600 shares of the company’s stock after buying an additional 62,400 shares during the period. PFG Investments LLC owned 2.97% of New Concept Energy worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

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.