New Concept Energy (NYSE:GBR) Trading Up 0.2% – What’s Next?

New Concept Energy, Inc. (NYSE:GBR) was up 0.2% during mid-day trading on Tuesday . The stock traded as high as $1.07 and last traded at $1.01. Approximately 83,910 shares traded hands during trading, a decline of 16% from the average daily volume of 100,156 shares. The stock had previously closed at $1.01.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen began coverage on New Concept Energy in a research note on Tuesday, May 20th. They set a “sell” rating on the stock.

New Concept Energy Trading Up 0.2%

The company has a 50 day moving average price of $0.98 and a 200 day moving average price of $0.94. The firm has a market cap of $5.19 million, a PE ratio of -33.73 and a beta of 0.05.

Institutional Investors Weigh In On New Concept Energy

An institutional investor recently bought a new position in New Concept Energy stock. Jane Street Group LLC bought a new stake in New Concept Energy, Inc. (NYSE:GBR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 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 as of its most recent filing with the Securities and Exchange Commission.

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.