American Resources Corporation (NASDAQ:AREC) Short Interest Update

American Resources Corporation (NASDAQ:AREC) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totaling 6,618,911 shares, a growth of 31.9% from the November 30th total of 5,019,443 shares. Approximately 7.8% of the company’s stock are short sold. Based on an average daily volume of 3,768,102 shares, the short-interest ratio is presently 1.8 days. Based on an average daily volume of 3,768,102 shares, the short-interest ratio is presently 1.8 days. Approximately 7.8% of the company’s stock are short sold.

Insiders Place Their Bets

In other American Resources news, major shareholder Properties Ltd. Golden sold 290,000 shares of the company’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 sale, the insider owned 10,288,832 shares in the company, valued at $42,492,876.16. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 2,564,818 shares of company stock valued at $10,405,579 over the last three months. 16.80% of the stock is owned by insiders.

Institutional Trading of American Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in AREC. Millennium Management LLC bought a new stake in American Resources during the third quarter worth approximately $1,524,000. Two Sigma Investments LP acquired a new stake in shares of American Resources during the 3rd quarter valued at $790,000. Jane Street Group LLC bought a new stake in shares of American Resources during the 2nd quarter worth $139,000. CWM LLC acquired a new position in shares of American Resources in the 3rd quarter worth $429,000. Finally, JPMorgan Chase & Co. raised its position in shares of American Resources by 86,418.3% during the second quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock worth $102,000 after purchasing an additional 122,714 shares during the period. 9.32% of the stock is currently owned by institutional investors.

American Resources Stock Up 1.1%

AREC stock opened at $2.71 on Tuesday. The stock has a market cap of $274.77 million, a PE ratio of -6.61 and a beta of 1.12. The firm’s 50-day simple moving average is $3.09 and its 200 day simple moving average is $2.37. American Resources has a fifty-two week low of $0.38 and a fifty-two week high of $7.11.

American Resources (NASDAQ:AREC) last posted its 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 during the quarter, compared to the consensus estimate of $0.01 million. Equities analysts forecast that American Resources will post -0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AREC has been the subject of a number of research analyst reports. Roth Capital reiterated a “buy” rating and issued a $5.00 price target on shares of American Resources in a report on Monday, October 13th. D. Boral Capital reiterated a “buy” rating and set a $6.00 target price on shares of American Resources in a research note on Monday, December 1st. Maxim Group began coverage on shares of American Resources in a research report on Wednesday, November 26th. They issued a “buy” rating and a $7.00 price target on the stock. D Boral Capital raised shares of American Resources to a “strong-buy” rating in a report on Monday, September 15th. Finally, William Blair assumed coverage on shares of American Resources in a research note on Monday, October 20th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, American Resources currently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

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.