American Resources (NASDAQ:AREC) Trading Up 25% – Here’s What Happened

American Resources Co. (NASDAQ:AREC)’s stock price was up 25% on Monday . The company traded as high as $0.89 and last traded at $0.82. Approximately 9,668,242 shares changed hands during trading, an increase of 409% from the average daily volume of 1,897,907 shares. The stock had previously closed at $0.66.

American Resources Stock Up 25.0%

The company has a market capitalization of $67.38 million, a PE ratio of -2.10 and a beta of 0.84. The company’s 50 day moving average is $0.79 and its two-hundred day moving average is $0.78.

American Resources (NASDAQ:AREC) last released its quarterly earnings data on Monday, May 19th. The company reported ($0.24) EPS for the quarter. The business had revenue of $0.05 million for the quarter. Analysts forecast that American Resources Co. will post -0.38 EPS for the current year.

Hedge Funds Weigh In On American Resources

A hedge fund recently bought a new stake in American Resources stock. Virtu Financial LLC bought a new stake in shares of American Resources Co. (NASDAQ:AREC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 27,449 shares of the company’s stock, valued at approximately $28,000. Institutional investors and hedge funds own 9.32% of the company’s stock.

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.