New Concept Energy (NYSE:GBR) Shares Down 3.9% – Should You Sell?

Shares of New Concept Energy, Inc. (NYSE:GBR) dropped 3.9% during mid-day trading on Monday . The stock traded as low as $0.71 and last traded at $0.7110. Approximately 117,826 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 666,345 shares. The stock had previously closed at $0.74.

New Concept Energy Price Performance

The stock has a 50-day moving average of $0.78 and a 200-day moving average of $0.81. The firm has a market cap of $3.65 million, a price-to-earnings ratio of -23.70 and a beta of 0.98.

Institutional Trading of New Concept Energy

An institutional investor recently bought a new position in New Concept Energy stock. Jane Street Group LLC purchased a new position in New Concept Energy, Inc. (NYSE:GBR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,724 shares of the company’s stock, valued at approximately $29,000. Jane Street Group LLC owned 0.50% of New Concept Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

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).