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

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

New Concept Energy Stock Performance

Shares of GBR stock opened at $1.26 on Tuesday. The business has a 50 day moving average of $1.10 and a two-hundred day moving average of $1.08. New Concept Energy has a 52 week low of $0.91 and a 52 week high of $1.67.

New Concept Energy (NYSE:GBR) last posted its earnings results on Monday, April 1st. The company reported ($0.04) earnings per share (EPS) for the quarter. New Concept Energy had a negative net margin of 13.82% and a negative return on equity of 0.46%. The company had revenue of $0.04 million during the quarter.

Institutional Trading of New Concept Energy

A hedge fund recently bought a new stake in New Concept Energy stock. PFG Investments LLC bought a new position in shares of New Concept Energy, Inc. (NYSE:GBR) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 90,200 shares of the company’s stock, valued at approximately $95,000.

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.