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

by · The Markets Daily

StockNews.com began coverage on shares of New Concept Energy (NYSE:GBR – Free Report) in a research report sent to investors on Friday. The brokerage issued a sell rating on the stock.

New Concept Energy Price Performance

Shares of NYSE GBR traded down $0.02 during midday trading on Friday, reaching $1.21. 5,962 shares of the company traded hands, compared to its average volume of 45,424. The stock has a 50-day moving average price of $1.20 and a 200 day moving average price of $1.35. New Concept Energy has a 52 week low of $0.95 and a 52 week high of $1.82.

New Concept Energy (NYSE:GBR – Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 EPS for the quarter. New Concept Energy had a negative return on equity of 0.59% and a negative net margin of 18.62%. The company had revenue of $0.04 million for the quarter.

Insider Activity

In related news, major shareholder Realty Advisors Inc sold 250,000 shares of the business’s stock in a transaction that occurred 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 $1,488,414.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC increased its stake in New Concept Energy, Inc. (NYSE:GBR – Free Report) by 69.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,600 shares of the company’s stock after purchasing an additional 62,400 shares during the quarter. PFG Investments LLC owned approximately 2.97% of New Concept Energy worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

New Concept Energy Company Profile

(Get Free Report)

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.

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