New Concept Energy (NYSE:GBR) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of New Concept Energy (NYSE:GBR) in a report issued on Thursday. The firm set a “sell” rating on the stock.

New Concept Energy Price Performance

Shares of NYSE:GBR opened at $0.78 on Thursday. The company has a market capitalization of $3.98 million, a P/E ratio of -25.83 and a beta of 0.10. New Concept Energy has a 1 year low of $0.68 and a 1 year high of $1.82. The business’s 50 day simple moving average is $0.99 and its 200 day simple moving average is $1.12.

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.