American Resources (NASDAQ:AREC) Shares Down 0.4% – What’s Next?

American Resources Corporation (NASDAQ:AREC)’s share price dropped 0.4% on Monday . The stock traded as low as $2.25 and last traded at $2.27. Approximately 2,517,847 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 2,697,003 shares. The stock had previously closed at $2.28.

Analysts Set New Price Targets

AREC has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Resources in a research note on Monday, April 20th. Wall Street Zen cut shares of American Resources from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

American Resources Trading Down 0.4%

The firm’s 50-day moving average price is $2.66 and its 200 day moving average price is $3.03. The company has a market capitalization of $242.73 million, a price-to-earnings ratio of -5.54 and a beta of 1.14.

Hedge Funds Weigh In On American Resources

Several hedge funds and other institutional investors have recently made changes to their positions in AREC. Creative Planning raised its position in shares of American Resources by 65.5% in the 2nd quarter. Creative Planning now owns 37,892 shares of the company’s stock valued at $31,000 after buying an additional 15,000 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 valued at $102,000 after buying an additional 122,714 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of American Resources in the 2nd quarter valued at approximately $33,000. Jane Street Group LLC acquired a new position in shares of American Resources in the 2nd quarter valued at approximately $139,000. Finally, CWM LLC acquired a new position in shares of American Resources in the 3rd quarter valued at approximately $429,000. 9.32% of the stock is currently owned by institutional investors and hedge funds.

About American Resources

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.