New Concept Energy (NYSE:GBR) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of New Concept Energy (NYSE:GBR) in a report released on Monday. The firm set a “sell” rating on the stock.

New Concept Energy Price Performance

Shares of New Concept Energy stock opened at $1.22 on Monday. The firm has a fifty day moving average price of $1.20 and a 200 day moving average price of $1.35. New Concept Energy has a 1 year low of $0.95 and a 1 year high of $1.82.

Institutional Inflows and Outflows

An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC grew its position in shares of New Concept Energy, Inc. (NYSE:GBR) by 69.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,600 shares of the company’s stock after purchasing an additional 62,400 shares during the quarter. PFG Investments LLC owned approximately 2.97% of New Concept Energy worth $244,000 as of its most recent SEC filing.

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.