American Resources Co. (NASDAQ:AREC) Sees Significant Increase in Short Interest

American Resources Co. (NASDAQ:AREC) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 3,550,000 shares, a growth of 30.0% from the February 13th total of 2,730,000 shares. Based on an average trading volume of 891,800 shares, the days-to-cover ratio is currently 4.0 days. Currently, 6.9% of the company’s stock are sold short.

Hedge Funds Weigh In On American Resources

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in American Resources by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 637,722 shares of the company’s stock worth $580,000 after buying an additional 15,350 shares in the last quarter. Jane Street Group LLC raised its stake in shares of American Resources by 84.5% in the 4th quarter. Jane Street Group LLC now owns 43,809 shares of the company’s stock valued at $44,000 after purchasing an additional 20,070 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of American Resources in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 9.32% of the company’s stock.

American Resources Price Performance

Shares of AREC stock opened at $0.48 on Wednesday. American Resources has a 12 month low of $0.41 and a 12 month high of $1.78. The firm has a market capitalization of $36.91 million, a P/E ratio of -1.22 and a beta of 0.31. The company’s fifty day moving average price is $0.63 and its two-hundred day moving average price is $0.84.

Analyst Ratings Changes

Separately, D. Boral Capital restated a “buy” rating and set a $4.00 target price on shares of American Resources in a report on Tuesday, January 7th.

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.