New Concept Energy (NYSE:GBR) Now Covered by

Equities researchers at began coverage on shares of New Concept Energy (NYSE:GBRGet Free Report) in a note issued to investors on Saturday. The brokerage set a “sell” rating on the stock.

New Concept Energy Price Performance

GBR stock opened at $1.05 on Friday. The firm has a fifty day moving average price of $1.03 and a 200 day moving average price of $1.08. New Concept Energy has a fifty-two week low of $0.91 and a fifty-two week high of $1.40.

Institutional Investors Weigh In On New Concept Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC grew its stake in New Concept Energy by 129.4% during the 4th quarter. Millennium Management LLC now owns 24,068 shares of the company’s stock worth $26,000 after buying an additional 13,576 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of New Concept Energy in the 2nd quarter valued at approximately $30,000. Finally, Virtu Financial LLC purchased a new position in shares of New Concept Energy in the 1st quarter 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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