American Resources (NASDAQ:AREC) Downgraded by Wall Street Zen to “Sell”

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

Other research analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Resources in a research report on Wednesday, January 21st. 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. Maxim Group assumed coverage on shares of American Resources in a research report on Wednesday, November 26th. They set a “buy” rating and a $7.00 price target on the stock. Finally, William Blair assumed coverage on shares of American Resources in a research note on Monday, October 20th. They issued an “outperform” rating for the company. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, American Resources presently 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 $3.08 on Friday. The business has a 50-day moving average of $3.07 and a 200-day moving average of $2.89. The stock has a market capitalization of $312.28 million, a price-to-earnings ratio of -7.51 and a beta of 1.17. 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 issued its quarterly earnings results on Friday, November 14th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.05. The company had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.01 million. On average, sell-side analysts expect that American Resources will post -0.38 EPS for the current year.

Hedge Funds Weigh In On American Resources

Several institutional investors and hedge funds have recently modified their holdings of AREC. Vanguard Group Inc. lifted its stake in shares of American Resources by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,124,973 shares of the company’s stock worth $8,437,000 after buying an additional 120,065 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new position in American Resources in the 4th quarter valued at about $5,750,000. Geode Capital Management LLC raised its holdings in American Resources by 23.4% in the 4th quarter. Geode Capital Management LLC now owns 851,394 shares of the company’s stock valued at $2,112,000 after acquiring an additional 161,221 shares during the period. Janney Montgomery Scott LLC lifted its position in American Resources by 12.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 633,898 shares of the company’s stock worth $1,572,000 after acquiring an additional 69,944 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in American Resources during the third quarter worth approximately $1,524,000. 9.32% of the stock is currently 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.