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:AREC) to a strong-buy rating in a research note issued to investors on Monday morning, Zacks.com 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.

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:AREC) 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:AREC) 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

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.