Short Interest in American Resources Co. (NASDAQ:AREC) Rises By 30.0%

American Resources Co. (NASDAQ:AREC) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 3,550,000 shares, an increase of 30.0% from the February 13th total of 2,730,000 shares. Approximately 6.9% of the shares of the company are sold short. Based on an average daily volume of 891,800 shares, the days-to-cover ratio is presently 4.0 days.

Hedge Funds Weigh In On American Resources

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in American Resources during the 4th quarter valued at $28,000. Jane Street Group LLC raised its stake in American Resources by 84.5% during the 4th quarter. Jane Street Group LLC now owns 43,809 shares of the company’s stock valued at $44,000 after purchasing an additional 20,070 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in American Resources by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 637,722 shares of the company’s stock valued at $580,000 after purchasing an additional 15,350 shares during the last quarter. 9.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, D. Boral Capital reissued a “buy” rating and issued a $4.00 price target on shares of American Resources in a research report on Tuesday, January 7th.

American Resources Price Performance

NASDAQ:AREC opened at $0.48 on Tuesday. The stock has a market cap of $37.49 million, a P/E ratio of -1.24 and a beta of 0.31. American Resources has a one year low of $0.41 and a one year high of $1.78. The company has a fifty day moving average price of $0.64 and a 200 day moving average price of $0.84.

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.