New Concept Energy (NYSE:GBR) Trading Down 2.2% – Should You Sell?

Shares of New Concept Energy, Inc. (NYSE:GBR) were down 2.2% on Thursday . The company traded as low as $0.91 and last traded at $0.91. Approximately 19,193 shares were traded during trading, a decline of 79% from the average daily volume of 91,868 shares. The stock had previously closed at $0.93.

New Concept Energy Stock Down 2.2%

The firm has a market capitalization of $4.67 million, a price-to-earnings ratio of -30.33 and a beta of 0.06. The business has a 50-day moving average of $0.99 and a two-hundred day moving average of $0.95.

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 bought a new position in shares of New Concept Energy, Inc. (NYSE:GBR) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 SEC filing.

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.