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

by · The Markets Daily

StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR – Get Free Report) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the stock.

New Concept Energy Stock Down 0.8 %

GBR opened at $1.24 on Tuesday. The company has a market cap of $6.36 million, a PE ratio of -41.33 and a beta of 0.30. New Concept Energy has a twelve month low of $0.95 and a twelve month high of $1.82. The company has a 50-day moving average price of $1.27 and a 200 day moving average price of $1.35.

New Concept Energy (NYSE:GBR – Get Free Report) last released its earnings results 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 business had revenue of $0.04 million for the quarter.

Insider Transactions at New Concept Energy

In other New Concept Energy news, major shareholder Realty Advisors Inc sold 250,000 shares of the firm’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 transaction, the insider now directly owns 1,144,934 shares of the company’s stock, valued at $1,488,414.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Trading of New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC increased its position in shares of New Concept Energy, Inc. (NYSE:GBR – Free Report) by 69.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,600 shares of the company’s stock after purchasing an additional 62,400 shares during the period. 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

(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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