Separately, TheStreet downgraded New Concept Energy from a c rating to a d rating in a research note on Tuesday, August 8th.
New Concept Energy Trading Down 3.4 %
New Concept Energy (NYSE:GBR – Get Free Report) last released its quarterly earnings results on Monday, August 7th. The company reported ($0.01) EPS for the quarter. The company had revenue of $0.04 million during the quarter. New Concept Energy had a return on equity of 1.07% and a net margin of 24.50%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its holdings in shares of New Concept Energy by 129.4% in the fourth quarter. Millennium Management LLC now owns 24,068 shares of the company’s stock valued at $26,000 after purchasing an additional 13,576 shares during the period. Renaissance Technologies LLC acquired a new position in shares of New Concept Energy in the second quarter valued at about $30,000. Finally, Virtu Financial LLC acquired a new position in shares of New Concept Energy in the first quarter valued at about $95,000.
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.
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