American Resources (NASDAQ:AREC) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of American Resources (NASDAQ:AREC) from a hold rating to a sell rating in a report released on Saturday.

A number of other equities analysts have also recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of American Resources in a report on Wednesday, October 8th. D. Boral Capital assumed coverage on shares of American Resources in a research report on Monday, September 15th. They set a “buy” rating and a $6.00 price target on the stock. D Boral Capital upgraded shares of American Resources to a “strong-buy” rating in a report on Monday, September 15th. William Blair started coverage on shares of American Resources in a research note on Monday, October 20th. They issued an “outperform” rating for the company. Finally, Roth Capital reiterated a “buy” rating and issued a $5.00 target price on shares of American Resources in a research report on Monday, October 13th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.50.

American Resources Stock Up 6.4%

NASDAQ AREC opened at $2.84 on Friday. The company has a market cap of $287.96 million, a PE ratio of -6.93 and a beta of 1.15. American Resources has a 52 week low of $0.38 and a 52 week high of $7.11. The firm’s 50-day simple moving average is $3.56 and its two-hundred day simple moving average is $2.04.

American Resources (NASDAQ:AREC) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.05. The company had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.01 million. As a group, equities research analysts anticipate that American Resources will post -0.38 EPS for the current year.

Insider Buying and Selling

In other American Resources news, major shareholder Properties Ltd. Golden sold 290,000 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $4.13, for a total transaction of $1,197,700.00. Following the completion of the sale, the insider owned 10,288,832 shares of the company’s stock, valued at $42,492,876.16. This represents a 2.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 2,564,818 shares of company stock worth $10,405,579. Corporate insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On American Resources

Several hedge funds and other institutional investors have recently modified their holdings of AREC. Northwest Financial Advisors purchased a new stake in shares of American Resources during the third quarter worth about $27,000. Belvedere Trading LLC purchased a new stake in American Resources in the 3rd quarter worth approximately $30,000. Nomura Holdings Inc. purchased a new stake in American Resources in the 3rd quarter worth approximately $33,000. Bank of America Corp DE grew its position in shares of American Resources by 3,721.8% in the 3rd quarter. Bank of America Corp DE now owns 19,797 shares of the company’s stock worth $53,000 after buying an additional 19,279 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of American Resources during the third quarter valued at approximately $71,000. 9.32% of the stock is owned by institutional investors.

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.