American Resources (NASDAQ:AREC) Major Shareholder Sells $1,120,000.00 in Stock

American Resources Corporation (NASDAQ:AREC) major shareholder Properties Ltd. Golden sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $1.12, for a total value of $1,120,000.00. Following the sale, the insider directly owned 13,389,960 shares in the company, valued at approximately $14,996,755.20. This represents a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Properties Ltd. Golden also recently made the following trade(s):

• On Tuesday, August 19th, Properties Ltd. Golden sold 1,000,000 shares of American Resources stock. The shares were sold at an average price of $1.26, for a total value of $1,260,000.00.
• On Friday, October 17th, Properties Ltd. Golden sold 980,000 shares of American Resources stock. The shares were sold at an average price of $4.06, for a total value of $3,978,800.00.
• On Monday, October 20th, Properties Ltd. Golden sold 20,000 shares of American Resources stock. The shares were sold at an average price of $4.12, for a total value of $82,400.00.

American Resources Price Performance

Shares of NASDAQ AREC opened at $3.88 on Friday. American Resources Corporation has a 1-year low of $0.38 and a 1-year high of $7.11. The business’s fifty day moving average price is $2.89 and its two-hundred day moving average price is $1.64. The firm has a market capitalization of $328.29 million, a PE ratio of -7.92 and a beta of 1.14.

American Resources (NASDAQ:AREC) last issued its quarterly earnings results on Tuesday, August 19th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $16.40 million. Equities research analysts expect that American Resources Corporation will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AREC. Virtu Financial LLC raised its stake in shares of American Resources by 271.3% in the 1st quarter. Virtu Financial LLC now owns 101,913 shares of the company’s stock valued at $48,000 after acquiring an additional 74,464 shares in the last quarter. Creative Planning raised its stake in shares of 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 acquiring an additional 15,000 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of American Resources by 86,418.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock valued at $102,000 after acquiring an additional 122,714 shares in the last quarter. XTX Topco Ltd bought a new position in shares of American Resources in the 2nd quarter valued at approximately $33,000. Finally, Jane Street Group LLC bought a new position in shares of American Resources in the 2nd quarter valued at approximately $139,000. 9.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on AREC shares. William Blair assumed coverage on American Resources in a research note on Monday. They set an “outperform” rating for the company. Roth Capital reiterated a “buy” rating and issued a $5.00 price target on shares of American Resources in a research report on Monday, October 13th. Wall Street Zen upgraded American Resources from a “sell” rating to a “hold” rating in a research report on Sunday, September 28th. D. Boral Capital assumed coverage on American Resources in a research report on Monday, September 15th. They issued a “buy” rating and a $6.00 price target for the company. Finally, D Boral Capital upgraded American Resources to a “strong-buy” rating in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, American Resources presently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

About American Resources

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.