American Resources (NASDAQ:AREC) Stock Rating Lowered by Wall Street Zen

American Resources (NASDAQ:AREC) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other research analysts have also commented on AREC. William Blair assumed coverage on shares of American Resources in a report on Monday, October 20th. They issued an “outperform” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of American Resources in a report on Wednesday, October 8th. D. Boral Capital restated a “buy” rating and issued a $6.00 target price on shares of American Resources in a research note on Monday, December 1st. Roth Capital reiterated a “buy” rating and set a $5.00 price target on shares of American Resources in a research report on Monday, October 13th. Finally, Maxim Group started coverage on American Resources in a report on Wednesday, November 26th. They issued a “buy” rating and a $7.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.00.

American Resources Trading Up 5.6%

Shares of AREC opened at $2.28 on Friday. American Resources has a 52 week low of $0.38 and a 52 week high of $7.11. The firm has a market cap of $231.18 million, a price-to-earnings ratio of -5.56 and a beta of 1.12. The stock has a 50 day moving average of $3.37 and a 200-day moving average of $2.29.

American Resources (NASDAQ:AREC) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.05. The firm had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.01 million. On average, sell-side analysts predict that American Resources will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at American Resources

In other news, major shareholder Properties Ltd. Golden sold 290,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $4.13, for a total transaction of $1,197,700.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 2,564,818 shares of company stock worth $10,405,579 over the last quarter. Insiders own 16.80% of the company’s stock.

Institutional Trading of American Resources

Several large investors have recently added to or reduced their stakes in the business. Creative Planning boosted its position in American Resources by 65.5% during the 2nd quarter. Creative Planning now owns 37,892 shares of the company’s stock worth $31,000 after acquiring an additional 15,000 shares during the period. JPMorgan Chase & Co. raised its stake in shares of American Resources by 86,418.3% during the second quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock valued at $102,000 after purchasing an additional 122,714 shares in the last quarter. XTX Topco Ltd acquired a new stake in American Resources in the second quarter worth about $33,000. Jane Street Group LLC acquired a new stake in American Resources in the second quarter worth about $139,000. Finally, CWM LLC bought a new position in American Resources in the 3rd quarter valued at about $429,000. 9.32% of the stock is currently owned by institutional investors and hedge funds.

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.