American Resources (NASDAQ:AREC) Rating Lowered to Sell at Wall Street Zen

American Resources (NASDAQ:AREC) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Other equities analysts have also recently issued reports about the company. William Blair began coverage on American Resources in a report on Monday, October 20th. They set an “outperform” rating for the company. D. Boral Capital reissued a “buy” rating and issued a $6.00 price objective on shares of American Resources in a research note on Monday, December 1st. Maxim Group initiated coverage on shares of American Resources in a report on Wednesday, November 26th. They issued a “buy” rating and a $7.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Resources in a report on Wednesday, October 8th. Finally, Roth Capital reissued a “buy” rating and issued a $5.00 price target on shares of American Resources in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, American Resources has an average rating of “Moderate Buy” and a consensus price target of $6.00.

American Resources Stock Up 5.6%

Shares of NASDAQ AREC opened at $2.28 on Friday. The firm has a market cap of $231.17 million, a price-to-earnings ratio of -5.56 and a beta of 1.12. American Resources has a 52-week low of $0.38 and a 52-week high of $7.11. The business’s 50 day moving average is $3.37 and its two-hundred day moving average is $2.27.

American Resources (NASDAQ:AREC) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.05. The firm had revenue of $0.05 million for the quarter, compared to analysts’ expectations of $0.01 million. Analysts anticipate that American Resources will post -0.38 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Properties Ltd. Golden sold 290,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $4.13, for a total transaction of $1,197,700.00. Following the transaction, the insider owned 10,288,832 shares in the company, valued at $42,492,876.16. This trade represents a 2.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 2,564,818 shares of company stock valued at $10,405,579. 16.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AREC. Northwest Financial Advisors acquired a new stake in shares of American Resources in the third quarter valued at approximately $27,000. Belvedere Trading LLC purchased a new stake in American Resources in the 3rd quarter valued at $30,000. Creative Planning boosted its stake in American Resources by 65.5% during the 2nd quarter. Creative Planning now owns 37,892 shares of the company’s stock worth $31,000 after purchasing an additional 15,000 shares during the period. XTX Topco Ltd purchased a new position in American Resources during the 2nd quarter worth $33,000. Finally, Nomura Holdings Inc. acquired a new position in American Resources in the third quarter valued at $33,000. Hedge funds and other institutional investors own 9.32% of the company’s stock.

American Resources Company Profile

American Resources Corporation (NASDAQ:AREC) is a diversified energy and critical minerals company focused on reclaiming coal refuse and mining high‐quality steam and metallurgical coal. The firm employs a vertically integrated business model that encompasses raw material extraction, on‐site processing and product delivery, supplying coal to power generators, steel manufacturers and industrial users.

Operating primarily in the Central Appalachian region of the United States, American Resources holds mining leases and reclamation permits across multiple sites in Kentucky, West Virginia and Indiana.