New Concept Energy stock hits 52-week low at $1.01

In a challenging market environment, New Concept Energy Inc (GBR) stock has touched a 52-week low, dipping to $1.01. This price level reflects a notable trough for the company’s shares over the past year, marking a point of concern for investors who track such metrics closely. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 7.48, though its overall financial health score indicates weakness at 1.71. Despite the downward trend, the 1-year change data for New Concept Energy Inc shows a relatively stable performance with a marginal decrease of just -0.02%. This suggests that while the stock has indeed reached its lowest valuation in the last year, the overall decline in share price has been quite contained, indicating a potential resilience in the face of broader market pressures. The company’s low beta of 0.23 and revenue decline of -14.53% paint a more complete picture of its current position. Discover more insights and 12+ additional key metrics with InvestingPro.

In other recent news, New Concept Energy, Inc. announced the recess of its Annual Meeting of Stockholders, initially scheduled for December 19, 2024. The meeting was recessed to allow further solicitation of proxies, as advised by Broadridge, despite already having a quorum. This meeting aims to address the election of directors and the ratification of the company’s independent registered public accounting firm. The company plans to reconvene the meeting on December 31, 2024, at 10:30 a.m. to gather additional votes. As of the record date on October 28, 2024, there were 5,131,934 shares of Common Stock and 559 shares of Series B Preferred Stock outstanding, each entitled to one vote. A quorum requires the presence of stockholders entitled to cast at least 2,566,247 votes. During the recess, New Concept Energy’s management and Board of Directors will continue to seek additional proxies to ensure adequate shareholder representation. This decision aligns with the Securities Exchange Act of 1934 and the company’s bylaws concerning shareholder meetings and voting rights.

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