New Concept Energy (NYSE:GBR) Trading Down 2.8% – What’s Next?

New Concept Energy, Inc. (NYSE:GBR)’s share price traded down 2.8% on Thursday . The company traded as low as $0.6755 and last traded at $0.70. Approximately 34,861 shares changed hands during trading, a decline of 94% from the average session volume of 592,360 shares. The stock had previously closed at $0.7199.

New Concept Energy Stock Performance

The stock has a market capitalization of $3.58 million, a price-to-earnings ratio of -23.23 and a beta of 0.95. The firm has a fifty day moving average of $0.75 and a 200-day moving average of $0.80.

Institutional Investors Weigh In On New Concept Energy

An institutional investor recently bought a new position in New Concept Energy stock. Jane Street Group LLC purchased a new position in New Concept Energy, Inc. (NYSE:GBR) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 25,724 shares of the company’s stock, valued at approximately $29,000. Jane Street Group LLC owned 0.50% of New Concept Energy as of its most recent SEC filing.

About New Concept Energy

New Concept Energy, Inc (NYSE:GBR) is an independent exploration and production company engaged in the acquisition, development and operation of onshore oil and natural gas assets. The company targets both conventional and unconventional formations, assembling a portfolio of producing wells and undeveloped acreage through lease acquisitions, farm-ins and joint ventures.

Its core activities encompass drilling, completion and production optimization of crude oil, natural gas and natural gas liquids (NGLs).