American Resources (NASDAQ:AREC) Rating Increased to Hold at Wall Street Zen

American Resources (NASDAQ:AREC) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Several other brokerages have also issued reports on AREC. William Blair began coverage on American Resources in a research report on Monday, October 20th. They set an “outperform” rating on the stock. D Boral Capital upgraded American Resources to a “strong-buy” rating in a research note on Monday, September 15th. Weiss Ratings restated a “sell (d-)” rating on shares of American Resources in a report on Wednesday, October 8th. D. Boral Capital reiterated a “buy” rating and issued a $6.00 target price on shares of American Resources in a research note on Monday, December 1st. Finally, Maxim Group initiated coverage on shares of American Resources in a research report on Wednesday, November 26th. They set a “buy” rating and a $7.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

American Resources Stock Down 1.5%

NASDAQ AREC opened at $2.68 on Friday. American Resources has a 52 week low of $0.38 and a 52 week high of $7.11. The company has a 50 day moving average price of $3.13 and a 200 day moving average price of $2.35. The firm has a market cap of $271.73 million, a PE ratio of -6.54 and a beta of 1.12.

American Resources (NASDAQ:AREC) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.05. The firm had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.01 million. On average, equities research analysts anticipate that American Resources will post -0.38 earnings per share for the current fiscal year.

Insider Activity at American Resources

In related news, major shareholder Properties Ltd. Golden sold 290,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $4.13, for a total value of $1,197,700.00. Following the transaction, the insider owned 10,288,832 shares in the company, valued at approximately $42,492,876.16. This represents a 2.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 2,564,818 shares of company stock worth $10,405,579 over the last three months. Insiders own 16.80% of the company’s stock.

Institutional Trading of American Resources

Several institutional investors and hedge funds have recently bought and sold shares of AREC. Worth Venture Partners LLC increased its stake in shares of American Resources by 45.0% in the third quarter. Worth Venture Partners LLC now owns 36,250 shares of the company’s stock worth $98,000 after acquiring an additional 11,250 shares during the period. Nomura Holdings Inc. purchased a new stake in American Resources in the third quarter valued at $33,000. Millennium Management LLC acquired a new stake in American Resources during the 3rd quarter worth about $1,524,000. Bank of America Corp DE raised its stake in shares of American Resources by 3,721.8% during the 3rd quarter. Bank of America Corp DE now owns 19,797 shares of the company’s stock valued at $53,000 after buying an additional 19,279 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of American Resources during the 3rd quarter valued at about $790,000. 9.32% of the stock is currently owned by institutional investors and hedge funds.

American Resources Company Profile

American Resources Corporation (NASDAQ:AREC) is a diversified energy and critical minerals company focused on reclaiming coal refuse and mining high‐quality steam and metallurgical coal. The firm employs a vertically integrated business model that encompasses raw material extraction, on‐site processing and product delivery, supplying coal to power generators, steel manufacturers and industrial users.

Operating primarily in the Central Appalachian region of the United States, American Resources holds mining leases and reclamation permits across multiple sites in Kentucky, West Virginia and Indiana.