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

American Resources (NASDAQ:AREC) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

AREC has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Resources in a report on Wednesday, October 8th. William Blair started coverage on American Resources in a research note on Monday, October 20th. They set an “outperform” rating on the stock. 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. D. Boral Capital restated a “buy” rating and set a $6.00 price target on shares of American Resources in a report on Monday, December 1st. Finally, Maxim Group initiated coverage on shares of American Resources in a research note on Wednesday, November 26th. They issued a “buy” rating and a $7.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $6.00.

American Resources Price Performance

AREC stock opened at $3.57 on Friday. The firm has a market capitalization of $361.96 million, a P/E ratio of -8.71 and a beta of 1.13. American Resources has a 52-week low of $0.38 and a 52-week high of $7.11. The company’s 50 day simple moving average is $2.93 and its 200-day simple moving average is $2.60.

American Resources (NASDAQ:AREC) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.07) earnings per share 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. Sell-side analysts predict that American Resources will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other American Resources news, major shareholder Properties Ltd. Golden sold 390,000 shares of American Resources stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $4.03, for a total value of $1,571,700.00. Following the completion of the sale, the insider directly owned 10,784,940 shares in the company, valued at $43,463,308.20. The trade was a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 1,564,818 shares of company stock worth $6,344,379 over the last 90 days. 16.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Creative Planning boosted its holdings in American Resources by 65.5% in the second quarter. Creative Planning now owns 37,892 shares of the company’s stock worth $31,000 after purchasing an additional 15,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of American Resources by 86,418.3% in the second quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock worth $102,000 after buying an additional 122,714 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of American Resources during the 2nd quarter worth about $33,000. Jane Street Group LLC acquired a new position in shares of American Resources during the 2nd quarter valued at about $139,000. Finally, CWM LLC bought a new position in shares of American Resources in the 3rd quarter valued at approximately $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.