StockNews.com began coverage on shares of New Concept Energy (NYSE:GBR – Free Report) in a research report sent to investors on Monday. The firm issued a sell rating on the stock.
New Concept Energy Trading Down 2.5 %
Shares of New Concept Energy stock opened at $1.19 on Monday. The company has a 50 day simple moving average of $1.20 and a two-hundred day simple moving average of $1.34. New Concept Energy has a 1 year low of $0.95 and a 1 year high of $1.82.
Institutional Trading of New Concept Energy
An institutional investor recently raised its position in New Concept Energy stock. PFG Investments LLC raised its stake in New Concept Energy, Inc. (NYSE:GBR – Free Report) by 69.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 152,600 shares of the company’s stock after purchasing an additional 62,400 shares during the quarter. PFG Investments LLC owned 2.97% of New Concept Energy worth $244,000 at the end of the most recent quarter.
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.
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