American Resources Corporation (NASDAQ:AREC) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 114,500 shares, an increase of 55.8% from the June 30th total of 73,500 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 142,300 shares, the short-interest ratio is presently 0.8 days.
Separately, ValuEngine upgraded American Resources from a “hold” rating to a “buy” rating in a report on Wednesday, May 27th.
Shares of AREC opened at $1.37 on Friday. American Resources has a 1 year low of $0.32 and a 1 year high of $2.98. The stock’s 50-day moving average price is $1.30 and its two-hundred day moving average price is $0.95.
American Resources (NASDAQ:AREC) last issued its earnings results on Friday, May 29th. The company reported ($0.47) earnings per share (EPS) for the quarter. The business had revenue of $6.59 million during the quarter.
A hedge fund recently bought a new stake in American Resources stock. Meridian Wealth Management LLC acquired a new stake in shares of American Resources Corporation (NASDAQ:AREC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 105,754 shares of the company’s stock, valued at approximately $124,000. Meridian Wealth Management LLC owned approximately 0.41% of American Resources at the end of the most recent reporting period. Institutional investors and hedge funds own 1.50% of the company’s stock.
About American Resources
American Resources Corporation is a supplier of high-quality raw materials to the rapidly growing global infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure market while also continuing to acquire operations and significantly reduce their legacy industry risks.
Featured Story: What is the significance of the death cross?
Receive News & Ratings for American Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Resources and related companies with MarketBeat.com's FREE daily email newsletter.