New Concept Energy (NYSE:GBR) Trading 8.1% Higher – Here’s What Happened

New Concept Energy, Inc. (NYSE:GBR) shares traded up 8.1% during mid-day trading on Thursday . The stock traded as high as $0.8438 and last traded at $0.8160. 91,155 shares traded hands during mid-day trading, an increase of 147% from the average session volume of 36,950 shares. The stock had previously closed at $0.7547.

New Concept Energy Price Performance

The stock has a market cap of $4.19 million, a price-to-earnings ratio of -27.20 and a beta of 0.92. The firm’s 50-day moving average is $0.78 and its 200 day moving average is $0.87.

Hedge Funds 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 stake in shares of New Concept Energy, Inc. (NYSE:GBR) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 at the end of the most recent quarter.

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).