American Resources Corporation (NASDAQ:AREC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of American Resources Corporation (NASDAQ:AREC) have received an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $5.50.

Several research firms have recently commented on AREC. Weiss Ratings restated a “sell (d-)” rating on shares of American Resources in a research note on Wednesday, October 8th. D Boral Capital upgraded shares of American Resources to a “strong-buy” rating in a research report on Monday, September 15th. D. Boral Capital initiated coverage on American Resources in a research report on Monday, September 15th. They set a “buy” rating and a $6.00 target price on the stock. William Blair initiated coverage on American Resources in a research note on Monday, October 20th. They set an “outperform” rating for the company. Finally, Roth Capital restated a “buy” rating and issued a $5.00 price target on shares of American Resources in a research note on Monday, October 13th.

American Resources Trading Down 10.1%

Shares of AREC stock opened at $3.30 on Friday. The company has a market capitalization of $328.52 million, a P/E ratio of -7.02 and a beta of 1.15. The business’s 50 day moving average is $3.43 and its two-hundred day moving average is $1.92. American Resources has a twelve month low of $0.38 and a twelve month high of $7.11.

American Resources (NASDAQ:AREC) last issued its quarterly earnings results on Tuesday, August 19th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $16.40 million. As a group, equities analysts predict that American Resources will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other American Resources news, major shareholder Properties Ltd. Golden sold 290,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $4.13, for a total transaction of $1,197,700.00. Following the sale, the insider directly owned 10,288,832 shares in the company, valued at approximately $42,492,876.16. The trade was a 2.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 3,564,818 shares of company stock valued at $11,665,579 over the last three months. 16.80% of the stock is currently owned by company insiders.

Institutional Trading of American Resources

A number of institutional investors have recently added to or reduced their stakes in AREC. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in American Resources during the third quarter worth about $118,000. Vanguard Group Inc. boosted its stake in shares of American Resources by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,124,973 shares of the company’s stock worth $8,437,000 after acquiring an additional 120,065 shares in the last quarter. Northwest Financial Advisors acquired a new stake in shares of American Resources in the 3rd quarter worth approximately $27,000. Belvedere Trading LLC purchased a new position in American Resources in the 3rd quarter valued at approximately $30,000. Finally, CWM LLC acquired a new position in American Resources during the third quarter worth $429,000. Hedge funds and other institutional investors own 9.32% of the company’s stock.

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.