American Resources Corporation (NASDAQ:AREC) was the target of a large increase in short interest in the month of March. As of March 13th, there was short interest totalling 20,200 shares, an increase of 405.0% from the February 27th total of 4,000 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 113,000 shares, the days-to-cover ratio is currently 0.2 days.
AREC has been the topic of a number of research reports. Maxim Group reaffirmed a “buy” rating and set a $1.50 price target on shares of American Resources in a research note on Wednesday, January 1st. ValuEngine downgraded American Resources from a “buy” rating to a “hold” rating in a research note on Thursday.
AREC stock opened at $1.00 on Friday. The stock’s 50 day simple moving average is $0.72 and its 200 day simple moving average is $0.66. American Resources has a fifty-two week low of $0.32 and a fifty-two week high of $4.35. The company has a quick ratio of 0.05, a current ratio of 0.08 and a debt-to-equity ratio of 0.68.
American Resources Corporation engages in the extraction, processing, transportation, and selling of metallurgical coal and pulverized coal injection for the steel making process. The company also provides high-BTU, low sulfur, and low moisture bituminous coal used for various industries, including industrial customers; and specialty products and thermal coal that is used for electricity generation.
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