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

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

A number of other equities analysts also recently issued reports on the company. D. Boral Capital reaffirmed a “buy” rating and issued a $6.00 price target on shares of American Resources in a report on Monday, December 1st. Weiss Ratings restated a “sell (d-)” rating on shares of American Resources in a research report on Wednesday, January 21st. Finally, Maxim Group initiated coverage on shares of American Resources in a report on Wednesday, November 26th. They issued a “buy” rating and a $7.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, American Resources presently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

American Resources Stock Performance

NASDAQ:AREC opened at $3.02 on Friday. American Resources has a 1 year low of $0.38 and a 1 year high of $7.11. The stock has a market cap of $306.20 million, a P/E ratio of -7.37 and a beta of 1.17. The stock has a 50-day simple moving average of $3.11 and a 200-day simple moving average of $2.97.

Institutional Investors Weigh In On American Resources

Several large investors have recently modified their holdings of AREC. CWM LLC purchased a new position in shares of American Resources during the third quarter worth approximately $429,000. MSH Capital Advisors LLC purchased a new stake in American Resources in the 4th quarter valued at $25,000. Novare Capital Management LLC acquired a new stake in American Resources during the 4th quarter worth $124,000. Pilgrim Partners Asia Pte Ltd purchased a new position in American Resources during the 4th quarter worth $66,000. Finally, Certuity LLC purchased a new position in American Resources during the 4th quarter worth $39,000. 9.32% of the stock is owned by institutional investors and hedge funds.

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.