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

StockNews.com initiated coverage on shares of New Concept Energy (NYSE:GBR) in a research note published on Monday. The brokerage issued a sell rating on the stock.

New Concept Energy Price Performance

GBR opened at $1.08 on Monday. The firm has a 50 day moving average price of $1.06 and a 200-day moving average price of $1.07. New Concept Energy has a twelve month low of $0.91 and a twelve month high of $1.67.

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. New Concept Energy had a negative net margin of 13.82% and a negative return on equity of 0.46%. The company had revenue of $0.04 million for the quarter.

Institutional Trading of New Concept Energy

Several large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in New Concept Energy during the first quarter valued at approximately $95,000. Millennium Management LLC grew its position in New Concept Energy by 129.4% during the fourth quarter. Millennium Management LLC now owns 24,068 shares of the company’s stock valued at $26,000 after buying an additional 13,576 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in New Concept Energy during the second quarter valued at approximately $30,000.

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.