American Resources (NASDAQ:AREC) Now Covered by Analysts at D. Boral Capital

D. Boral Capital began coverage on shares of American Resources (NASDAQ:AREC) in a report issued on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $6.00 price target on the stock.

Separately, Wall Street Zen upgraded American Resources from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, American Resources has a consensus rating of “Buy” and a consensus target price of $5.00.

American Resources Trading Up 20.7%

Shares of AREC stock opened at $2.45 on Monday. The company has a market capitalization of $207.29 million, a P/E ratio of -5.00 and a beta of 1.02. The business’s 50 day moving average is $1.56 and its two-hundred day moving average is $1.02. American Resources has a 12-month low of $0.38 and a 12-month high of $2.49.

American Resources (NASDAQ:AREC) last issued its quarterly earnings results on Tuesday, August 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $16.40 million. On average, research analysts predict that American Resources will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AREC. Creative Planning grew its position in American Resources by 65.5% in the second quarter. Creative Planning now owns 37,892 shares of the company’s stock worth $31,000 after acquiring an additional 15,000 shares during the period. XTX Topco Ltd purchased a new position in American Resources in the second quarter worth approximately $33,000. Jane Street Group LLC grew its position in American Resources by 84.5% in the fourth quarter. Jane Street Group LLC now owns 43,809 shares of the company’s stock worth $44,000 after acquiring an additional 20,070 shares during the period. Virtu Financial LLC grew its position in American Resources by 271.3% in the first quarter. Virtu Financial LLC now owns 101,913 shares of the company’s stock worth $48,000 after acquiring an additional 74,464 shares during the period. Finally, JPMorgan Chase & Co. grew its position in American Resources by 86,418.3% in the second quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock worth $102,000 after acquiring an additional 122,714 shares during the period. 9.32% of the stock is currently owned by hedge funds and other institutional investors.

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.