American Resources Co. (NASDAQ:AREC – Get Free Report) dropped 4.7% during mid-day trading on Tuesday . The company traded as low as $0.41 and last traded at $0.42. Approximately 180,884 shares were traded during trading, a decline of 41% from the average daily volume of 307,641 shares. The stock had previously closed at $0.44.
Analysts Set New Price Targets
AREC has been the topic of a number of research analyst reports. EF Hutton Acquisition Co. I raised American Resources to a “strong-buy” rating in a research note on Monday, June 3rd. Roth Mkm reissued a “buy” rating and issued a $5.00 target price on shares of American Resources in a research note on Friday, May 24th.
Check Out Our Latest Stock Analysis on AREC
American Resources Stock Performance
American Resources (NASDAQ:AREC – Get Free Report) last posted its earnings results on Monday, August 19th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). American Resources had a negative return on equity of 978.72% and a negative net margin of 332.74%. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. On average, equities analysts predict that American Resources Co. will post -0.13 EPS for the current year.
Institutional Investors Weigh In On American Resources
An institutional investor recently raised its position in American Resources stock. Vanguard Group Inc. raised its holdings in shares of American Resources Co. (NASDAQ:AREC – Free Report) by 7.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,988,101 shares of the company’s stock after purchasing an additional 216,800 shares during the period. Vanguard Group Inc. owned 3.77% of American Resources worth $4,213,000 as of its most recent SEC filing. Institutional investors own 9.32% of the company’s stock.
American Resources Company Profile
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.
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