Short Interest in American Resources Co. (NASDAQ:AREC) Increases By 54.1%

American Resources Co. (NASDAQ:AREC) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 7,010,000 shares, an increase of 54.1% from the March 31st total of 4,550,000 shares. Currently, 13.6% of the company’s shares are short sold. Based on an average daily trading volume, of 5,570,000 shares, the days-to-cover ratio is currently 1.3 days.

American Resources Stock Down 3.9 %

AREC opened at $0.97 on Thursday. American Resources has a 12 month low of $0.38 and a 12 month high of $1.68. The company has a fifty day simple moving average of $0.65 and a 200 day simple moving average of $0.83. The stock has a market cap of $75.13 million, a P/E ratio of -2.49 and a beta of 0.97.

Analyst Upgrades and Downgrades

Separately, D. Boral Capital restated a “buy” rating and set a $4.00 price objective on shares of American Resources in a report on Tuesday, January 7th.

Institutional Trading of American Resources

A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of American Resources by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 637,722 shares of the company’s stock valued at $580,000 after buying an additional 15,350 shares in the last quarter. Jane Street Group LLC increased its position in shares of American Resources by 84.5% in the 4th quarter. Jane Street Group LLC now owns 43,809 shares of the company’s stock valued at $44,000 after buying an additional 20,070 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of American Resources in the 4th quarter valued at $28,000. Institutional investors own 9.32% of the company’s stock.

American Resources Company Profile

American Resources Corporation, together with its subsidiaries, extracts, processes, transports, and sells metallurgical coal to the steel and industrial industries. It supplies raw materials; and sells coal used in pulverized coal injections. The company was founded in 2006 and is headquartered in Fishers, Indiana.