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

StockNews.com assumed coverage on shares of New Concept Energy (NYSE:GBR) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the stock.

New Concept Energy Trading Up 3.8 %

Shares of GBR opened at $1.38 on Tuesday. The firm has a market capitalization of $7.08 million, a P/E ratio of -46.00 and a beta of 0.39. New Concept Energy has a 12-month low of $0.91 and a 12-month high of $1.67. The firm has a fifty day moving average price of $1.09 and a 200-day moving average price of $1.08.

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

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:GBR) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 90,200 shares of the company’s stock, valued at approximately $95,000.

New Concept Energy Company Profile

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.