StockNews.com Initiates Coverage on New Concept Energy (NYSE:GBR)

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

New Concept Energy Trading Down 3.2 %

GBR opened at $1.21 on Monday. The company has a fifty day moving average price of $1.18 and a two-hundred day moving average price of $1.26. The company has a market cap of $6.21 million, a P/E ratio of -40.33 and a beta of 0.33. New Concept Energy has a 1-year low of $0.96 and a 1-year high of $1.82.

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.