American Resources (NASDAQ:AREC) Raised to Strong-Buy at EF Hutton Acquisition Co. I

EF Hutton Acquisition Co. I upgraded shares of American Resources (NASDAQ:ARECFree Report) to a strong-buy rating in a research note issued to investors on Monday morning, reports.

Separately, Roth Mkm reissued a buy rating and issued a $5.00 price target on shares of American Resources in a report on Friday, May 24th.

Read Our Latest Analysis on American Resources

American Resources Stock Down 0.8 %

AREC opened at $1.17 on Monday. The business has a 50 day moving average of $1.33 and a 200-day moving average of $1.45. The stock has a market capitalization of $90.55 million, a price-to-earnings ratio of -9.00 and a beta of 0.30. The company has a current ratio of 0.30, a quick ratio of 0.29 and a debt-to-equity ratio of 230.66. American Resources has a 1-year low of $1.11 and a 1-year high of $2.16.

American Resources (NASDAQ:ARECGet Free Report) last posted its quarterly earnings results on Monday, May 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. American Resources had a negative net margin of 179.75% and a negative return on equity of 978.72%. The company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.10 million. During the same period last year, the business posted ($0.04) EPS. As a group, sell-side analysts anticipate that American Resources will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On American Resources

A hedge fund recently bought a new stake in American Resources stock. Jump Financial LLC purchased a new position in shares of American Resources Co. (NASDAQ:ARECFree Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 20,800 shares of the company’s stock, valued at approximately $35,000. Hedge funds and other institutional investors own 9.32% of the company’s stock.

About American Resources

(Get Free Report)

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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