Shares of American Resources Co. (NASDAQ:AREC – Get Free Report) were down 4.7% on Tuesday . The company traded as low as $0.41 and last traded at $0.42. Approximately 180,884 shares traded hands during trading, a decline of 41% from the average daily volume of 307,641 shares. The stock had previously closed at $0.44.
Analyst Ratings Changes
AREC has been the topic of several recent analyst reports. EF Hutton Acquisition Co. I raised shares of American Resources to a “strong-buy” rating in a report on Monday, June 3rd. Roth Mkm restated a “buy” rating and set a $5.00 price objective on shares of American Resources in a research note on Friday, May 24th.
Check Out Our Latest Report on American Resources
American Resources Price Performance
American Resources (NASDAQ:AREC – Get Free Report) last released its earnings results on Monday, August 19th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). American Resources had a negative return on equity of 978.72% and a negative net margin of 332.74%. During the same period last year, the company earned ($0.01) earnings per share. On average, sell-side analysts forecast that American Resources Co. will post -0.13 EPS for the current fiscal year.
Institutional Investors Weigh In On American Resources
An institutional investor recently raised its position in American Resources stock. Vanguard Group Inc. increased its stake in American Resources Co. (NASDAQ:AREC – Free Report) by 7.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,988,101 shares of the company’s stock after purchasing an additional 216,800 shares during the quarter. Vanguard Group Inc. owned approximately 3.77% of American Resources worth $4,213,000 as of its most recent filing with the Securities and Exchange Commission. 9.32% of the stock is currently owned by hedge funds and other institutional investors.
American Resources Company Profile
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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