American Resources (NASDAQ:AREC) Major Shareholder Sells $82,400.00 in Stock

American Resources Corporation (NASDAQ:AREC) major shareholder Properties Ltd. Golden sold 20,000 shares of American Resources stock in a transaction on Monday, October 20th. The stock was sold at an average price of $4.12, for a total value of $82,400.00. Following the completion of the sale, the insider directly owned 11,389,960 shares of the company’s stock, valued at $46,926,635.20. The trade was a 0.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, July 31st, Properties Ltd. Golden sold 1,000,000 shares of American Resources stock. The stock was sold at an average price of $1.12, for a total value of $1,120,000.00.
• 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 transaction 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 transaction of $3,978,800.00.

American Resources Trading Down 12.1%

NASDAQ:AREC opened at $3.72 on Thursday. The stock has a market capitalization of $314.75 million, a P/E ratio of -7.59 and a beta of 1.14. American Resources Corporation has a 12-month low of $0.38 and a 12-month high of $7.11. The stock has a 50-day moving average price of $2.80 and a 200 day moving average price of $1.59.

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

Hedge Funds Weigh In On American Resources

Several hedge funds have recently made changes to their positions in AREC. CWM LLC purchased a new position in American Resources in the 3rd quarter worth $429,000. Jane Street Group LLC purchased a new position in shares of American Resources in the second quarter worth about $139,000. XTX Topco Ltd purchased a new position in shares of American Resources in the second quarter worth about $33,000. JPMorgan Chase & Co. lifted its holdings in shares of American Resources by 86,418.3% during the second 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 period. Finally, Creative Planning boosted 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 buying an additional 15,000 shares during the last quarter. 9.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. D. Boral Capital started coverage on American Resources in a research note on Monday, September 15th. They issued a “buy” rating and a $6.00 price objective on the stock. Roth Capital reiterated a “buy” rating and set a $5.00 price target on shares of American Resources in a 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 upgraded American Resources to a “strong-buy” rating in a report on Monday, September 15th. Finally, William Blair initiated coverage on shares of American Resources in a report on Monday. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.