American Resources Co. (NASDAQ:AREC) Short Interest Up 8.6% in July

American Resources Co. (NASDAQ:AREC) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totalling 2,520,000 shares, a growth of 8.6% from the July 15th total of 2,320,000 shares. Based on an average daily volume of 455,800 shares, the days-to-cover ratio is currently 5.5 days. Currently, 4.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On American Resources

An institutional investor recently raised its position in American Resources stock. Vanguard Group Inc. raised its stake in American Resources Co. (NASDAQ:AREC) by 7.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,988,101 shares of the company’s stock after purchasing an additional 216,800 shares during the quarter. Vanguard Group Inc. owned 3.77% of American Resources worth $4,213,000 at the end of the most recent quarter. 9.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AREC has been the subject of several research reports. Roth Mkm reiterated a “buy” rating and issued a $5.00 target price on shares of American Resources in a research report on Friday, May 24th. EF Hutton Acquisition Co. I upgraded American Resources to a “strong-buy” rating in a report on Monday, June 3rd.

American Resources Price Performance

Shares of AREC stock traded up $0.02 during trading hours on Friday, hitting $0.62. 141,271 shares of the company’s stock were exchanged, compared to its average volume of 321,390. The company has a market capitalization of $49.09 million, a PE ratio of -4.77 and a beta of 0.31. The company has a current ratio of 0.30, a quick ratio of 0.29 and a debt-to-equity ratio of 230.66. American Resources has a 12-month low of $0.44 and a 12-month high of $1.86. The business’s 50 day simple moving average is $0.69 and its 200-day simple moving average is $1.15.

American Resources (NASDAQ:AREC) last issued its earnings results on Monday, May 20th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. American Resources had a negative net margin of 179.75% and a negative return on equity of 978.72%. The company had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.10 million. During the same quarter last year, the company earned ($0.04) EPS. On average, equities research analysts anticipate that American Resources will post -0.13 earnings per share for the current year.

About American Resources

American Resources Corporation, together with its subsidiaries, extracts, processes, transports, and sells metallurgical coal to the steel and industrial industries. It supplies raw materials; and sells coal used in pulverized coal injections. The company was founded in 2006 and is headquartered in Fishers, Indiana.