American Resources (NASDAQ:AREC) Trading Up 0.6% – What’s Next?

American Resources Corporation (NASDAQ:AREC) shares shot up 0.6% during mid-day trading on Monday . The company traded as high as $3.25 and last traded at $3.13. 1,675,142 shares traded hands during trading, a decline of 30% from the average session volume of 2,404,507 shares. The stock had previously closed at $3.11.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AREC shares. Maxim Group initiated coverage on shares of American Resources in a report on Wednesday, November 26th. They set a “buy” rating and a $7.00 price objective for the company. Wall Street Zen raised shares of American Resources from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of American Resources in a research report on Wednesday, January 21st. Finally, D. Boral Capital restated a “buy” rating and issued a $6.00 target price on shares of American Resources in a research note on Monday, December 1st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

American Resources Trading Down 1.3%

The stock has a fifty day moving average of $3.32 and a two-hundred day moving average of $3.16. The stock has a market capitalization of $331.47 million, a price-to-earnings ratio of -7.56 and a beta of 1.02.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Creative Planning lifted its stake 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 purchasing an additional 15,000 shares during the period. JPMorgan Chase & Co. increased its holdings in American Resources by 86,418.3% in the second quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock valued at $102,000 after purchasing an additional 122,714 shares during the last quarter. XTX Topco Ltd acquired a new position in American Resources in the second quarter valued at about $33,000. Jane Street Group LLC bought a new position in American Resources during the second quarter worth about $139,000. Finally, CWM LLC bought a new position in American Resources during the third quarter worth about $429,000. 9.32% of the stock is currently owned by institutional investors.

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.