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

StockNews.com began coverage on shares of New Concept Energy (NYSE:GBRFree Report) in a report published on Tuesday. The brokerage issued a sell rating on the stock.

New Concept Energy Price Performance

Shares of New Concept Energy stock opened at $1.44 on Tuesday. The firm’s fifty day simple moving average is $1.34 and its 200-day simple moving average is $1.14. New Concept Energy has a 12 month low of $0.95 and a 12 month high of $1.81. The stock has a market capitalization of $7.39 million, a price-to-earnings ratio of -48.00 and a beta of 0.34.

New Concept Energy (NYSE:GBRGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.01 earnings per share (EPS) for the quarter. New Concept Energy had a negative net margin of 25.17% and a negative return on equity of 0.79%. The business had revenue of $0.04 million for the quarter.

Hedge Funds Weigh In On New Concept Energy

A hedge fund recently bought a new stake in New Concept Energy stock. PFG Investments LLC bought a new stake in New Concept Energy, Inc. (NYSE:GBRFree Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 90,200 shares of the company’s stock, valued at approximately $95,000.

About New Concept Energy

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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.

Further Reading

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