American Resources (NASDAQ:AREC) Stock Rating Lowered by Wall Street Zen

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

Several other equities research analysts also recently weighed in on the stock. William Blair began coverage on shares of American Resources in a research report on Monday, October 20th. They issued an “outperform” rating for the company. D. Boral Capital reissued a “buy” rating and issued a $6.00 price objective on shares of American Resources in a report on Monday, December 1st. Maxim Group started coverage on American Resources in a report on Wednesday, November 26th. They set a “buy” rating and a $7.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of American Resources in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, American Resources presently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

American Resources Stock Up 8.8%

Shares of AREC opened at $3.08 on Friday. The firm has a market cap of $312.28 million, a price-to-earnings ratio of -7.51 and a beta of 1.17. The business’s 50 day moving average is $3.07 and its two-hundred day moving average is $2.92. American Resources has a 52-week low of $0.38 and a 52-week high of $7.11.

American Resources (NASDAQ:AREC) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. The company had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.01 million. On average, equities analysts expect that American Resources will post -0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of American Resources by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,124,973 shares of the company’s stock worth $8,437,000 after purchasing an additional 120,065 shares during the period. HITE Hedge Asset Management LLC bought a new position in American Resources during the 4th quarter worth $5,750,000. Geode Capital Management LLC increased its position in American Resources by 23.4% in the fourth quarter. Geode Capital Management LLC now owns 851,394 shares of the company’s stock worth $2,112,000 after buying an additional 161,221 shares during the period. Janney Montgomery Scott LLC increased its position in American Resources by 12.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 633,898 shares of the company’s stock worth $1,572,000 after buying an additional 69,944 shares during the period. Finally, Millennium Management LLC bought a new stake in American Resources in the third quarter valued at $1,524,000. 9.32% of the stock is currently owned by institutional investors and hedge funds.

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.