American Resources (NASDAQ:AREC) Stock Price Up 0.6% – Here’s What Happened

American Resources Corporation (NASDAQ:AREC) shot up 0.6% during trading on Monday . The company traded as high as $3.25 and last traded at $3.13. 1,675,142 shares traded hands during trading, a decline of 30% from the average session volume of 2,404,507 shares. The stock had previously closed at $3.11.

Analysts Set New Price Targets

A number of research firms have weighed in on AREC. Wall Street Zen upgraded American Resources from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Resources in a research report on Wednesday, January 21st. 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. Finally, Maxim Group initiated coverage on American Resources in a report on Wednesday, November 26th. They issued a “buy” rating and a $7.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

American Resources Stock Performance

The company’s 50 day moving average price is $3.32 and its 200-day moving average price is $3.15. The company has a market cap of $334.69 million, a price-to-earnings ratio of -7.63 and a beta of 1.02.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AREC. Creative Planning lifted its position in shares of American Resources by 65.5% during the 2nd quarter. Creative Planning now owns 37,892 shares of the company’s stock valued at $31,000 after acquiring an additional 15,000 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of American Resources by 86,418.3% in the 2nd 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 last quarter. XTX Topco Ltd acquired a new stake in shares of American Resources during the second quarter worth $33,000. Jane Street Group LLC acquired a new stake in shares of American Resources during the second quarter worth $139,000. Finally, CWM LLC purchased a new stake in shares of American Resources during the third quarter valued at $429,000. 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.