New Concept Energy (NYSEAMERICAN:GBR) shares down 0.5%

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New Concept Energy, Inc. (NYSAMERICAN:GBRGet a rating) the stock price fell 0.5% during Monday’s midday session. The stock traded as low as $1.81 and last traded at $1.85. Approximately 759 shares were traded during trading, down 100% from the average daily volume of 549,188 shares. The stock had previously closed at $1.86.

Separately, TheStreet cut shares of New Concept Energy from a “c-” rating to a “d” rating in a Monday, April 11 report.

New Energy Concept (NYSAMERICAN:GBRGet a rating) last released its quarterly results on Tuesday, March 22. The company reported ($0.01) earnings per share for the quarter. New Concept Energy posted a net margin of 87.13% and a return on equity of 1.75%. The company had revenue of $0.03 million in the quarter.

A number of hedge funds have recently increased or reduced their holdings in the stock. Renaissance Technologies LLC bought a new position in New Concept Energy during the 4th quarter for a value of approximately $208,000. Morgan Stanley increased its stake in New Concept Energy by 340.3% in the second quarter. Morgan Stanley now owns 20,278 shares of the company worth $124,000 after acquiring 15,673 additional shares in the last quarter. Virtu Financial LLC bought a new stake in New Concept Energy in Q1 worth $95,000. Geode Capital Management LLC increased its stake in New Concept Energy by 72.4% in the 3rd quarter. Geode Capital Management LLC now owns 18,365 shares of the company worth $78,000 after acquiring 7,715 additional shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in New Concept Energy in Q3 for $65,000. Institutional investors hold 6.83% of the company’s shares.

About New Concept Energy (NYSAMERICAN:GBR)

New Concept Energy, Inc. is engaged in real estate leasing business. The Company owns approximately 190 acres of land located in Parkersburg, West Virginia. She also provides advisory and management services for an independent oil and gas company. The company was previously known as CabelTel International Corporation and changed its name to New Concept Energy, Inc in May 2008.

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