New Concept Energy (NYSE:GBR) Research Coverage Started at assumed coverage on shares of New Concept Energy (NYSE:GBRFree Report) in a report published on Wednesday. The firm issued a sell rating on the stock.

New Concept Energy Stock Performance

NYSE:GBR opened at $1.04 on Wednesday. The stock’s fifty day moving average is $1.02 and its two-hundred day moving average is $1.08. New Concept Energy has a 52 week low of $0.91 and a 52 week high of $1.40.

Institutional Trading of New Concept Energy

Several hedge funds have recently modified their holdings of the stock. Millennium Management LLC raised its stake in shares of New Concept Energy by 129.4% in the fourth quarter. Millennium Management LLC now owns 24,068 shares of the company’s stock valued at $26,000 after acquiring an additional 13,576 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of New Concept Energy in the second quarter valued at $30,000. Finally, Virtu Financial LLC purchased a new position in New Concept Energy in the first quarter valued at $95,000.

About New Concept Energy

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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.

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