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

StockNews.com began coverage on shares of New Concept Energy (NYSE:GBR) in a research report released on Monday. The firm issued a sell rating on the stock.

New Concept Energy Price Performance

GBR stock opened at $1.08 on Monday. New Concept Energy has a twelve month low of $0.91 and a twelve month high of $1.67. The business’s 50-day simple moving average is $1.06 and its 200 day simple moving average is $1.07.

New Concept Energy (NYSE:GBR) last released its earnings results on Monday, April 1st. The company reported ($0.04) earnings per share for the quarter. New Concept Energy had a negative return on equity of 0.46% and a negative net margin of 13.82%. The firm had revenue of $0.04 million for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in New Concept Energy during the 1st quarter worth approximately $95,000. Renaissance Technologies LLC bought a new stake in New Concept Energy during the 2nd quarter worth approximately $30,000. Finally, Millennium Management LLC grew its position in New Concept Energy by 129.4% during the 4th quarter. Millennium Management LLC now owns 24,068 shares of the company’s stock worth $26,000 after acquiring an additional 13,576 shares during the last quarter.

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.