New Concept Energy (NYSE:GBR) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of New Concept Energy (NYSE:GBR) in a research report report published on Tuesday morning. The brokerage issued a sell rating on the stock.

New Concept Energy Stock Down 0.8 %

NYSE:GBR opened at $1.23 on Tuesday. New Concept Energy has a fifty-two week low of $0.95 and a fifty-two week high of $1.82. The stock’s 50-day moving average is $1.26 and its two-hundred day moving average is $1.35.

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

Insider Activity

In other news, major shareholder Realty Advisors Inc sold 250,000 shares of New Concept Energy stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $1.30, for a total transaction of $325,000.00. Following the completion of the sale, the insider now directly owns 1,144,934 shares in the company, valued at $1,488,414.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On New Concept Energy

A hedge fund recently raised its stake in New Concept Energy stock. PFG Investments LLC raised its holdings in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 about 2.97% of New Concept Energy worth $244,000 as of its most recent SEC filing.

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.