American Resources (NASDAQ:AREC) Upgraded by Wall Street Zen to “Hold” Rating

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

Several other analysts have also recently commented on AREC. D. Boral Capital reaffirmed a “buy” rating and issued a $6.00 target price on shares of American Resources in a research note on Monday, December 1st. D Boral Capital upgraded American Resources to a “strong-buy” rating in a research note on Monday, September 15th. Roth Capital reissued a “buy” rating and issued a $5.00 price target on shares of American Resources in a research note on Monday, October 13th. Maxim Group initiated coverage on American Resources in a report on Wednesday, November 26th. They issued a “buy” rating and a $7.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of American Resources in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, American Resources currently has an average rating of “Moderate Buy” and an average price target of $6.00.

American Resources Stock Down 1.5%

AREC opened at $2.68 on Friday. The firm has a market cap of $271.73 million, a P/E ratio of -6.54 and a beta of 1.12. The business’s fifty day simple moving average is $3.13 and its 200 day simple moving average is $2.36. American Resources has a 52 week low of $0.38 and a 52 week high of $7.11.

American Resources (NASDAQ:AREC) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $0.01 million. As a group, equities analysts expect that American Resources will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other American Resources news, major shareholder Properties Ltd. Golden sold 980,000 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $4.06, for a total transaction of $3,978,800.00. Following the completion of the sale, the insider directly owned 11,409,960 shares in the company, valued at $46,324,437.60. The trade was a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 2,564,818 shares of company stock worth $10,405,579 over the last 90 days. 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 made changes to their positions in AREC. Northwest Financial Advisors acquired a new stake in American Resources in the 3rd quarter valued at $27,000. Belvedere Trading LLC purchased a new stake in shares of American Resources during the 3rd quarter valued at about $30,000. Worth Venture Partners LLC lifted its position in American Resources by 45.0% during the 3rd quarter. Worth Venture Partners LLC now owns 36,250 shares of the company’s stock worth $98,000 after acquiring an additional 11,250 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in American Resources in the third quarter valued at approximately $33,000. Finally, Creative Planning raised its stake in shares of American Resources by 65.5% during the second quarter. Creative Planning now owns 37,892 shares of the company’s stock valued at $31,000 after purchasing an additional 15,000 shares during the period. Institutional investors and hedge funds own 9.32% of the company’s stock.

American Resources Company Profile

American Resources Corporation (NASDAQ:AREC) is a diversified energy and critical minerals company focused on reclaiming coal refuse and mining high?quality steam and metallurgical coal. The firm employs a vertically integrated business model that encompasses raw material extraction, on?site processing and product delivery, supplying coal to power generators, steel manufacturers and industrial users.

Operating primarily in the Central Appalachian region of the United States, American Resources holds mining leases and reclamation permits across multiple sites in Kentucky, West Virginia and Indiana.