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

Investment analysts at StockNews.com assumed coverage on shares of New Concept Energy (NYSE:GBR) in a research report issued on Sunday. The firm set a “sell” rating on the stock.

New Concept Energy Price Performance

Shares of New Concept Energy stock opened at $1.18 on Friday. The firm has a fifty day moving average price of $1.20 and a two-hundred day moving average price of $1.35. New Concept Energy has a fifty-two week low of $0.95 and a fifty-two week high of $1.82.

Institutional Trading of New Concept Energy

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC boosted its holdings in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,600 shares of the company’s stock after buying an additional 62,400 shares during the period. 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.