New Concept Energy (NYSE:GBR) Trading 8.1% Higher – Should You Buy?

New Concept Energy, Inc. (NYSE:GBR)’s stock price shot up 8.1% during trading on Thursday . The stock traded as high as $0.8438 and last traded at $0.8160. 91,155 shares changed 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 Stock Up 8.1%

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

Hedge Funds Weigh In On New Concept Energy

An institutional investor recently bought a new position in New Concept Energy stock. Jane Street Group LLC acquired a new stake in shares of New Concept Energy, Inc. (NYSE:GBR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 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 (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).