REX American Resources Corp. (REX) Sees Large Volume Increase
REX American Resources Corp. (NYSE:REX) shares saw an uptick in trading volume on Wednesday . 84,351 shares traded hands during trading, an increase of 8% from the previous session’s volume of 78,363 shares.The stock last traded at $63.99 and had previously closed at $63.32.
Separately, Singular Research cut their target price on shares of REX American Resources Corp. from $67.50 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 4th.
The company’s 50-day moving average is $60.07 and its 200-day moving average is $54.62. The company has a market cap of $424.83 million and a price-to-earnings ratio of 14.92.
REX American Resources Corp. (NYSE:REX) last released its quarterly earnings results on Thursday, June 2nd. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by $0.58. The firm had revenue of $100.20 million for the quarter, compared to analyst estimates of $105.02 million. On average, equities analysts predict that REX American Resources Corp. will post $3.81 earnings per share for the current year.
In other news, Director Lawrence Tomchin sold 2,000 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the sale, the director now directly owns 149,938 shares of the company’s stock, valued at $8,996,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Several hedge funds recently added to or reduced their stakes in the stock. First Trust Advisors LP bought a new stake in REX American Resources Corp. during the fourth quarter valued at approximately $2,757,000. Shell Asset Management Co. bought a new stake in REX American Resources Corp. during the fourth quarter valued at approximately $1,986,000. GSA Capital Partners LLP boosted its stake in REX American Resources Corp. by 89.1% in the fourth quarter. GSA Capital Partners LLP now owns 47,953 shares of the company’s stock valued at $2,593,000 after buying an additional 22,600 shares during the period. Schroder Investment Management Group boosted its stake in REX American Resources Corp. by 219.4% in the fourth quarter. Schroder Investment Management Group now owns 270,831 shares of the company’s stock valued at $14,644,000 after buying an additional 186,031 shares during the period. Finally, Marshall Wace LLP boosted its stake in REX American Resources Corp. by 4.2% in the fourth quarter. Marshall Wace LLP now owns 52,978 shares of the company’s stock valued at $2,865,000 after buying an additional 2,121 shares during the period.
Rex American Resources Corporation is a holding company. The Company has invested in approximately three ethanol production entities, two of which the Company has a majority ownership interest in. The Company operates through alternative energy segment. The Company’s ethanol investments include One Earth Energy, LLC (One Earth), NuGen Energy, LLC (NuGen) and Big River Resources, LLC (Big River).
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