New Concept Energy (NYSE:GBR) Trading 1.8% Higher – Should You Buy?

New Concept Energy, Inc. (NYSE:GBR)’s share price was up 1.8% during mid-day trading on Friday . The stock traded as high as $0.8099 and last traded at $0.8090. Approximately 66,856 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 756,206 shares. The stock had previously closed at $0.7949.

New Concept Energy Price Performance

The firm’s 50 day moving average is $0.83 and its 200 day moving average is $0.82. The firm has a market cap of $4.15 million, a P/E ratio of -26.97 and a beta of 1.02.

Institutional Investors Weigh In On New Concept Energy

A hedge fund recently bought a new stake in New Concept Energy stock. Jane Street Group LLC purchased a new stake in shares of New Concept Energy, Inc. (NYSE:GBR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,724 shares of the company’s stock, valued at approximately $29,000. Jane Street Group LLC owned approximately 0.50% of New Concept Energy at the end of the most recent reporting period.

New Concept Energy Company Profile

New Concept Energy, Inc (NYSE:GBR) is an independent exploration and production company engaged in the acquisition, development and operation of onshore oil and natural gas assets. The company targets both conventional and unconventional formations, assembling a portfolio of producing wells and undeveloped acreage through lease acquisitions, farm-ins and joint ventures.

Its core activities encompass drilling, completion and production optimization of crude oil, natural gas and natural gas liquids (NGLs).