American Resources’ (AREC) “Sell (D-)” Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of American Resources (NASDAQ:AREC) in a research note released on Friday morning,Weiss Ratings reports.

A number of other equities research analysts also recently weighed in on AREC. William Blair assumed coverage on American Resources in a research report on Monday, October 20th. They set an “outperform” rating on the stock. Roth Capital reaffirmed a “buy” rating and set a $5.00 price objective on shares of American Resources in a research report on Monday, October 13th. 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 raised American Resources to a “strong-buy” rating in a research report on Monday, September 15th. Finally, D. Boral Capital began coverage on American Resources in a research report on Monday, September 15th. They set a “buy” rating and a $6.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.50.

American Resources Trading Up 6.9%

AREC opened at $3.88 on Friday. American Resources has a 12-month low of $0.38 and a 12-month high of $7.11. The business’s fifty day simple moving average is $2.89 and its 200-day simple moving average is $1.66. The company has a market capitalization of $328.29 million, a price-to-earnings ratio of -8.26 and a beta of 1.14.

American Resources (NASDAQ:AREC) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $16.40 million. On average, equities research analysts predict 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 20,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $46,926,635.20. This trade represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 3,000,000 shares of company stock valued at $6,441,200 in the last three months. Company insiders own 16.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new position in shares of American Resources in the second quarter worth about $139,000. CWM LLC purchased a new position in shares of American Resources in the third quarter worth about $429,000. JPMorgan Chase & Co. raised its stake in shares of American Resources by 86,418.3% in 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 last quarter. Virtu Financial LLC raised its stake in shares of American Resources by 271.3% in the first quarter. Virtu Financial LLC now owns 101,913 shares of the company’s stock worth $48,000 after purchasing an additional 74,464 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of American Resources in the second quarter worth about $33,000. 9.32% of the stock is currently owned by hedge funds and other 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.