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

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

New Concept Energy Stock Down 0.4 %

Shares of NYSE GBR opened at $1.20 on Friday. The firm has a market cap of $6.16 million, a PE ratio of -40.00 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 fifty day simple moving average is $1.40 and its 200 day simple moving average is $1.33.

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

Insider Buying and Selling

In related 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 transaction, the insider now directly owns 1,144,934 shares of the company’s stock, valued at $1,488,414.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by insiders.

Institutional Trading of New Concept Energy

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

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.