American Resources (NASDAQ:AREC) Stock Price Up 31.7%

Shares of American Resources Co. (NASDAQ:ARECGet Free Report) rose 31.7% during trading on Tuesday . The stock traded as high as $0.83 and last traded at $0.83. Approximately 852,016 shares were traded during trading, an increase of 169% from the average daily volume of 317,208 shares. The stock had previously closed at $0.63.

Analyst Upgrades and Downgrades

AREC has been the subject of several analyst reports. EF Hutton Acquisition Co. I upgraded shares of American Resources to a “strong-buy” rating in a research note on Monday, June 3rd. Roth Mkm reiterated a “buy” rating and issued a $5.00 price objective on shares of American Resources in a research note on Friday, May 24th.

Read Our Latest Research Report on American Resources

American Resources Stock Up 31.7 %

The company has a current ratio of 0.30, a quick ratio of 0.29 and a debt-to-equity ratio of 230.66. The firm’s 50 day simple moving average is $1.06 and its two-hundred day simple moving average is $1.32. The firm has a market cap of $65.72 million, a price-to-earnings ratio of -6.38 and a beta of 0.31.

American Resources (NASDAQ:ARECGet Free Report) last issued its quarterly earnings data on Monday, May 20th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.03. The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.10 million. American Resources had a negative net margin of 179.75% and a negative return on equity of 978.72%. During the same quarter in the previous year, the company earned ($0.04) EPS. On average, equities analysts forecast that American Resources Co. will post -0.13 EPS for the current year.

Hedge Funds Weigh In On American Resources

A hedge fund recently raised its stake in American Resources stock. Vanguard Group Inc. grew its position in American Resources Co. (NASDAQ:ARECFree Report) by 7.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,988,101 shares of the company’s stock after buying an additional 216,800 shares during the quarter. Vanguard Group Inc. owned 3.77% of American Resources worth $4,213,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 9.32% of the company’s stock.

About American Resources

(Get Free Report)

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.

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