American Resources (NASDAQ:AREC) Cut to Sell at Wall Street Zen

American Resources (NASDAQ:AREC) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other analysts also recently commented on AREC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Resources in a research note on Wednesday, October 8th. D. Boral Capital reissued a “buy” rating and issued a $6.00 target price on shares of American Resources in a research note on Monday, December 1st. William Blair started coverage on American Resources in a research report on Monday, October 20th. They set an “outperform” rating on the stock. Roth Capital reiterated a “buy” rating and set a $5.00 price objective on shares of American Resources in a report on Monday, October 13th. Finally, Maxim Group started coverage on American Resources in a research report on Wednesday, November 26th. They issued a “buy” rating and a $7.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

American Resources Price Performance

American Resources stock opened at $3.57 on Friday. The firm has a market capitalization of $361.96 million, a price-to-earnings ratio of -8.71 and a beta of 1.13. The company’s 50 day simple moving average is $2.93 and its 200 day simple moving average is $2.57. American Resources has a fifty-two week low of $0.38 and a fifty-two week high of $7.11.

American Resources (NASDAQ:AREC) last posted its earnings results on Friday, November 14th. The company reported ($0.07) earnings per share 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 analyst estimates of $0.01 million. As a group, analysts predict that American Resources will post -0.38 EPS for the current fiscal year.

Insider Activity

In other American Resources news, major shareholder Properties Ltd. Golden sold 290,000 shares of the stock in a transaction dated 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 directly owned 10,288,832 shares of the company’s stock, valued at $42,492,876.16. This represents a 2.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 1,584,818 shares of company stock worth $6,426,779. Company insiders own 16.80% of the company’s stock.

Institutional Investors Weigh In On American Resources

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

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.