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

by · The Cerbat Gem

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

New Concept Energy Stock Performance

NYSE GBR opened at $1.14 on Thursday. The business has a 50 day moving average price of $1.18 and a two-hundred day moving average price of $1.32. New Concept Energy has a fifty-two week low of $0.95 and a fifty-two week high of $1.82.

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 holdings in New Concept Energy, Inc. (NYSE:GBR – Free Report) by 69.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

New Concept Energy Company Profile

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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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