American Resources Corporation (NASDAQ:AREC) Short Interest Update

American Resources Corporation (NASDAQ:AREC) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totaling 6,618,911 shares, a growth of 31.9% from the November 30th total of 5,019,443 shares. Currently, 7.8% of the company’s shares are short sold. Based on an average daily volume of 3,768,102 shares, the days-to-cover ratio is currently 1.8 days. Based on an average daily volume of 3,768,102 shares, the days-to-cover ratio is currently 1.8 days. Currently, 7.8% of the company’s shares are short sold.

Insider Transactions at American Resources

In other American Resources news, major shareholder Properties Ltd. Golden sold 290,000 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $4.13, for a total transaction of $1,197,700.00. Following the completion of the sale, the insider directly owned 10,288,832 shares of the company’s stock, valued at approximately $42,492,876.16. This represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 2,564,818 shares of company stock worth $10,405,579. 16.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On American Resources

Several large investors have recently made changes to their positions in AREC. Northwest Financial Advisors acquired a new position in American Resources during the 3rd quarter valued at $27,000. Belvedere Trading LLC bought a new position in shares of American Resources during the 3rd quarter worth about $30,000. Creative Planning boosted its stake in American Resources by 65.5% in the 2nd quarter. Creative Planning now owns 37,892 shares of the company’s stock valued at $31,000 after buying an additional 15,000 shares in the last quarter. XTX Topco Ltd bought a new stake in American Resources in the second quarter valued at $33,000. Finally, Nomura Holdings Inc. acquired a new position in American Resources during the third quarter worth $33,000. Institutional investors and hedge funds own 9.32% of the company’s stock.

Analyst Upgrades and Downgrades

AREC has been the subject of several research analyst reports. D. Boral Capital restated a “buy” rating and issued a $6.00 price target on shares of American Resources in a research report on Monday, December 1st. Roth Capital reaffirmed a “buy” rating and issued a $5.00 target price on shares of American Resources in a research report on Monday, October 13th. Maxim Group started coverage on American Resources in a report on Wednesday, November 26th. They set a “buy” rating and a $7.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of American Resources in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised American Resources from a “sell” rating to a “hold” rating in a research note on Sunday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, American Resources has an average rating of “Moderate Buy” and an average target price of $6.00.

American Resources Price Performance

Shares of NASDAQ AREC opened at $2.71 on Tuesday. American Resources has a one year low of $0.38 and a one year high of $7.11. The business’s 50-day moving average price is $3.09 and its two-hundred day moving average price is $2.37. The company has a market capitalization of $274.77 million, a P/E ratio of -6.61 and a beta of 1.12.

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

About American Resources

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.