American Resources (NASDAQ:AREC) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

American Resources (NASDAQ:AREC) posted its quarterly earnings data on Friday. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03, Zacks reports.

American Resources Price Performance

NASDAQ AREC traded down $0.28 during trading on Friday, reaching $3.02. The company’s stock had a trading volume of 6,374,554 shares, compared to its average volume of 4,911,416. The firm has a fifty day moving average of $3.43 and a 200 day moving average of $1.92. American Resources has a one year low of $0.38 and a one year high of $7.11. The stock has a market capitalization of $300.64 million, a PE ratio of -6.43 and a beta of 1.15.

Insider Activity at American Resources

In related news, major shareholder Properties Ltd. Golden sold 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $1.26, for a total value of $1,260,000.00. Following the transaction, the insider directly owned 12,389,960 shares in the company, valued at approximately $15,611,349.60. This represents a 7.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 3,564,818 shares of company stock worth $11,665,579 over the last ninety days. 16.80% of the stock is currently owned by insiders.

Institutional Trading of American Resources

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning lifted its position in American Resources by 65.5% in the second quarter. Creative Planning now owns 37,892 shares of the company’s stock valued at $31,000 after purchasing an additional 15,000 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of American Resources in the second quarter worth $33,000. Squarepoint Ops LLC purchased a new position in shares of American Resources in the third quarter worth $71,000. JPMorgan Chase & Co. raised its holdings in American Resources by 86,418.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock valued at $102,000 after buying an additional 122,714 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in American Resources during the 2nd quarter valued at $139,000. Hedge funds and other institutional investors own 9.32% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AREC. D Boral Capital upgraded American Resources to a “strong-buy” rating in a research note on Monday, September 15th. Wall Street Zen raised American Resources from a “sell” rating to a “hold” rating in a research report on Sunday, September 28th. D. Boral Capital assumed coverage on shares of American Resources in a report on Monday, September 15th. They set a “buy” rating and a $6.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of American Resources in a research note on Wednesday, October 8th. Finally, William Blair began coverage on shares of American Resources in a report on Monday, October 20th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, American Resources presently has an average rating of “Moderate Buy” and an average target price of $5.50.

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.