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

Research analysts at StockNews.com began coverage on shares of New Concept Energy (NYSE:GBR) in a research note issued on Tuesday. The firm set a “sell” rating on the stock.

New Concept Energy Trading Down 9.0 %

Shares of NYSE GBR opened at $1.31 on Tuesday. New Concept Energy has a 1 year low of $0.91 and a 1 year high of $1.67. The company’s 50-day moving average is $1.07 and its 200 day moving average is $1.08.

New Concept Energy (NYSE:GBR) last announced its quarterly earnings results on Monday, April 1st. The company reported ($0.04) earnings per share (EPS) for the quarter. New Concept Energy had a negative net margin of 13.82% and a negative return on equity of 0.46%. The company had revenue of $0.04 million for the quarter.

Institutional Investors Weigh In On New Concept Energy

A hedge fund recently bought a new stake in New Concept Energy stock. PFG Investments LLC acquired a new position in New Concept Energy, Inc. (NYSE:GBR) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 90,200 shares of the company’s stock, valued at approximately $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.