American Resources (NASDAQ:AREC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of American Resources (NASDAQ:AREC) from a sell rating to a hold rating in a research report sent to investors on Sunday morning.

Several other equities analysts have also issued reports on the stock. D Boral Capital raised shares of American Resources to a “strong-buy” rating in a report on Monday, September 15th. Maxim Group initiated coverage on American Resources in a report on Wednesday, November 26th. They set a “buy” rating and a $7.00 target price on the stock. D. Boral Capital started coverage on American Resources in a report on Monday, September 15th. They issued a “buy” rating and a $6.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Resources in a research report on Wednesday, October 8th. Finally, William Blair assumed coverage on American Resources in a report on Monday, October 20th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, American Resources presently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

American Resources Price Performance

Shares of AREC stock opened at $2.86 on Friday. The stock has a market cap of $289.98 million, a PE ratio of -6.98 and a beta of 1.12. The stock has a 50-day moving average of $3.56 and a 200-day moving average of $2.12. American Resources has a one year low of $0.38 and a one year high of $7.11.

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

Insider Buying and Selling at American Resources

In other news, major shareholder Properties Ltd. Golden sold 980,000 shares of American Resources stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $4.06, for a total value of $3,978,800.00. Following the sale, the insider directly owned 11,409,960 shares in the company, valued at $46,324,437.60. This trade represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 2,564,818 shares of company stock worth $10,405,579. 16.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On American Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC bought a new position in shares of American Resources in the 3rd quarter valued at about $1,524,000. Two Sigma Investments LP acquired a new position in American Resources during the third quarter valued at approximately $790,000. Jane Street Group LLC bought a new position in American Resources in the second quarter valued at approximately $139,000. CWM LLC acquired a new position in shares of American Resources during the 3rd quarter worth approximately $429,000. Finally, JPMorgan Chase & Co. increased its position in shares of American Resources by 86,418.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock worth $102,000 after purchasing an additional 122,714 shares during the last quarter. 9.32% of the stock is owned by institutional investors.

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.