New Concept Energy (NYSE:GBR) Shares Up 3.3% – Here’s Why

Shares of New Concept Energy, Inc. (NYSE:GBR) shot up 3.3% during trading on Thursday . The company traded as high as $0.8497 and last traded at $0.82. 12,384 shares were traded during trading, a decline of 85% from the average session volume of 81,615 shares. The stock had previously closed at $0.7936.

New Concept Energy Trading Down 4.4%

The firm’s fifty day simple moving average is $0.86 and its two-hundred day simple moving average is $0.97. The company has a market capitalization of $4.12 million, a price-to-earnings ratio of -26.73 and a beta of -0.03.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in New Concept Energy stock. Jane Street Group LLC bought a new position in shares of New Concept Energy, Inc. (NYSE:GBR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 25,724 shares of the company’s stock, valued at approximately $29,000. Jane Street Group LLC owned 0.50% of New Concept Energy at the end of the most recent reporting period.

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.