Wall Street Zen Upgrades American Resources (NASDAQ:AREC) to Hold

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

A number of other equities research analysts have also issued reports on the stock. Maxim Group initiated coverage on shares of American Resources in a report on Wednesday, November 26th. They set a “buy” rating and a $7.00 price objective for the company. Roth Mkm reaffirmed a “buy” rating and set a $5.00 target price on shares of American Resources in a research note on Monday, October 13th. William Blair assumed coverage on American Resources in a report on Monday, October 20th. They issued an “outperform” rating for the company. D. Boral Capital restated a “buy” rating and set a $6.00 target price on shares of American Resources in a report on Monday, December 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Resources in a research report on Wednesday. One equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

American Resources Price Performance

Shares of AREC opened at $4.37 on Friday. The firm has a market capitalization of $443.07 million, a P/E ratio of -10.66 and a beta of 1.13. The business has a fifty day moving average of $2.97 and a 200 day moving average of $2.70. American Resources has a one year low of $0.38 and a one year high of $7.11.

American Resources (NASDAQ:AREC) last announced its earnings results on Friday, November 14th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. The business had revenue of $0.05 million for the quarter, compared to analysts’ expectations of $0.01 million. Analysts expect that American Resources will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Properties Ltd. Golden sold 290,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $4.13, for a total value of $1,197,700.00. Following the completion of the sale, the insider directly owned 10,288,832 shares in the company, valued at $42,492,876.16. The trade was 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 link. Insiders sold 1,564,818 shares of company stock valued at $6,344,379 over the last quarter. 16.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American Resources

Several institutional investors have recently bought and sold shares of AREC. Creative Planning lifted its holdings 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 purchasing an additional 15,000 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of American Resources by 86,418.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock worth $102,000 after purchasing an additional 122,714 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of American Resources in the second quarter valued at approximately $33,000. Jane Street Group LLC acquired a new stake in American Resources during the second quarter worth about $139,000. Finally, CWM LLC purchased a new position in American Resources in the third quarter worth approximately $429,000. 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.