Properties Ltd. Golden Sells 92,973 Shares of American Resources (NASDAQ:AREC) Stock

American Resources Corporation (NASDAQ:AREC) major shareholder Properties Ltd. Golden sold 92,973 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $4.00, for a total transaction of $371,892.00. Following the completion of the sale, the insider directly owned 11,296,987 shares in the company, valued at $45,187,948. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% 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 Wednesday, November 5th, Properties Ltd. Golden sold 118,892 shares of American Resources stock. The stock was sold at an average price of $4.02, for a total transaction of $477,945.84.
• On Tuesday, August 19th, Properties Ltd. Golden sold 1,000,000 shares of American Resources stock. The stock was 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 stock was sold at an average price of $4.06, for a total transaction of $3,978,800.00.
• On Monday, October 20th, Properties Ltd. Golden sold 20,000 shares of American Resources stock. The stock was sold at an average price of $4.12, for a total transaction of $82,400.00.

American Resources Price Performance

Shares of NASDAQ:AREC traded down $0.05 during trading on Thursday, reaching $3.66. 5,200,615 shares of the company were exchanged, compared to its average volume of 4,846,772. The firm has a market capitalization of $364.16 million, a PE ratio of -7.86 and a beta of 1.15. The business’s fifty day simple moving average is $3.22 and its 200-day simple moving average is $1.82. American Resources Corporation has a 12-month low of $0.38 and a 12-month high of $7.11.

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

Hedge Funds Weigh In On American Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. Northwest Financial Advisors acquired a new position in American Resources in the 3rd quarter valued at about $27,000. Belvedere Trading LLC purchased a new stake in shares of American Resources in the 3rd quarter valued at approximately $30,000. Creative Planning increased its stake in American Resources by 65.5% during the 2nd quarter. Creative Planning now owns 37,892 shares of the company’s stock worth $31,000 after buying an additional 15,000 shares during the period. XTX Topco Ltd purchased a new stake in American Resources during the 2nd quarter worth approximately $33,000. Finally, Virtu Financial LLC increased its position in shares of American Resources by 271.3% in the 1st quarter. Virtu Financial LLC now owns 101,913 shares of the company’s stock valued at $48,000 after purchasing an additional 74,464 shares during the last quarter. 9.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AREC has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Resources in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of American Resources from a “sell” rating to a “hold” rating in a research note on Sunday, September 28th. D Boral Capital raised shares of American Resources to a “strong-buy” rating in a report on Monday, September 15th. Roth Capital reaffirmed a “buy” rating and issued a $5.00 price objective on shares of American Resources in a report on Monday, October 13th. Finally, D. Boral Capital began coverage on shares of American Resources in a research note on Monday, September 15th. They set a “buy” rating and a $6.00 target price for the company. One research 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

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.