American Resources (NASDAQ:AREC) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of American Resources (NASDAQ:AREC) from a hold rating to a sell rating in a research note released on Saturday.

A number of other research analysts have also issued reports on the stock. D. Boral Capital reiterated a “buy” rating and issued a $6.00 price objective on shares of American Resources in a report on Monday, December 1st. Maxim Group started coverage on shares of American Resources in a research report on Wednesday, November 26th. They issued a “buy” rating and a $7.00 price target for the company. William Blair began coverage on shares of American Resources in a report on Monday, October 20th. They set an “outperform” rating on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of American Resources in a report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $6.00.

American Resources Stock Up 8.8%

NASDAQ AREC opened at $3.08 on Friday. American Resources has a twelve month low of $0.38 and a twelve month high of $7.11. The company has a market cap of $312.28 million, a price-to-earnings ratio of -7.51 and a beta of 1.17. The business’s fifty day moving average is $3.08 and its 200 day moving average is $2.93.

American Resources (NASDAQ:AREC) last issued its earnings results on Friday, November 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. The firm had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.01 million. On average, research analysts anticipate that American Resources will post -0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MSH Capital Advisors LLC acquired a new stake in American Resources during the 4th quarter worth about $25,000. Northwest Financial Advisors bought a new stake in shares of American Resources during the 3rd quarter valued at about $27,000. Belvedere Trading LLC bought a new stake in shares of American Resources during the 3rd quarter valued at about $30,000. Creative Planning grew its stake in American Resources by 65.5% during the second quarter. Creative Planning now owns 37,892 shares of the company’s stock worth $31,000 after purchasing an additional 15,000 shares during the period. Finally, State of Wyoming bought a new stake in American Resources in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 9.32% of the company’s stock.

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.