American Resources (NASDAQ:AREC) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of American Resources (NASDAQ:ARECGet Rating) from a buy rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “American Resources Corp. is a supplier of raw materials to the infrastructure marketplace. The company’s primary focus is on the extraction, processing, transportation and selling of metallurgical coal and pulverized coal injection to the steel industry. Its operations are based in the Central Appalachian basin of eastern Kentucky and southern West Virginia. American Resources Corp. is based in Fishers, Indiana. “

Separately, HC Wainwright lifted their price objective on shares of American Resources from $3.75 to $4.50 and gave the company a buy rating in a research note on Thursday, March 31st.

Shares of NASDAQ AREC opened at $1.78 on Wednesday. American Resources has a fifty-two week low of $1.58 and a fifty-two week high of $4.22. The firm’s 50-day simple moving average is $2.18 and its 200 day simple moving average is $2.06. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.93 and a current ratio of 0.93.

American Resources (NASDAQ:ARECGet Rating) last issued its quarterly earnings data on Tuesday, March 29th. The company reported ($0.18) earnings per share for the quarter. The company had revenue of $4.54 million for the quarter. On average, sell-side analysts expect that American Resources will post 0.18 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Regentatlantic Capital LLC raised its position in American Resources by 71.3% in the fourth quarter. Regentatlantic Capital LLC now owns 24,937 shares of the company’s stock worth $45,000 after acquiring an additional 10,381 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in American Resources during the 4th quarter worth about $65,000. Marshall Wace LLP acquired a new stake in American Resources during the 4th quarter worth about $167,000. Goldman Sachs Group Inc. raised its holdings in American Resources by 19.6% during the 3rd quarter. Goldman Sachs Group Inc. now owns 93,413 shares of the company’s stock worth $177,000 after buying an additional 15,300 shares during the period. Finally, Morgan Stanley raised its holdings in American Resources by 23,020.8% during the 2nd quarter. Morgan Stanley now owns 115,604 shares of the company’s stock worth $295,000 after buying an additional 115,104 shares during the period. Hedge funds and other institutional investors own 9.45% of the company’s stock.

American Resources Company Profile (Get Rating)

American Resources Corporation engages in the extraction, processing, transportation, distribution, and sale of metallurgical coal to the steel industries. The company supplies raw materials; and sells coal used in pulverized coal injections. It has a portfolio of operations located in the Pike, Knott, and Letcher Counties in Kentucky; and Wyoming County, West Virginia.

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