Wall Street Zen Upgrades American Resources (NASDAQ:AREC) to Hold

American Resources (NASDAQ:AREC) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

A number of other research firms have also recently issued reports on AREC. William Blair started coverage on American Resources in a report on Monday, October 20th. They set an “outperform” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Resources in a research report on Wednesday, October 8th. D. Boral Capital reissued a “buy” rating and set a $6.00 target price on shares of American Resources in a research note on Monday, December 1st. D Boral Capital upgraded shares of American Resources to a “strong-buy” rating in a report on Monday, September 15th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $5.00 price target on shares of American Resources in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.00.

American Resources Trading Down 1.5%

Shares of AREC opened at $2.68 on Friday. The company has a market cap of $271.73 million, a price-to-earnings ratio of -6.54 and a beta of 1.12. American Resources has a 12 month low of $0.38 and a 12 month high of $7.11. The business’s fifty day simple moving average is $3.13 and its two-hundred day simple moving average is $2.35.

American Resources (NASDAQ:AREC) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.05. The firm had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.01 million. As a group, research analysts forecast that American Resources will post -0.38 EPS for the current year.

Insider Transactions at American Resources

In other American Resources news, major shareholder Properties Ltd. Golden sold 980,000 shares of the firm’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $4.06, for a total transaction of $3,978,800.00. Following the transaction, the insider owned 11,409,960 shares of the company’s stock, valued at approximately $46,324,437.60. This trade represents a 7.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 2,564,818 shares of company stock worth $10,405,579. 16.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Resources

Hedge funds and other institutional investors have recently modified their holdings of the business. Northwest Financial Advisors purchased a new stake in American Resources during the third quarter worth $27,000. Belvedere Trading LLC bought a new position in shares of American Resources in the 3rd quarter worth $30,000. Worth Venture Partners LLC lifted its stake in shares of American Resources by 45.0% during the 3rd quarter. Worth Venture Partners LLC now owns 36,250 shares of the company’s stock worth $98,000 after purchasing an additional 11,250 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of American Resources during the 3rd quarter worth $33,000. Finally, Creative Planning boosted its position in American Resources by 65.5% during the second quarter. Creative Planning now owns 37,892 shares of the company’s stock valued at $31,000 after purchasing an additional 15,000 shares in the last quarter. 9.32% of the stock is currently owned by institutional investors.

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.