American Resources (NASDAQ:AREC) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

American Resources (NASDAQ:AREC) announced its earnings results on Tuesday. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05), Zacks reports.

American Resources Price Performance

Shares of American Resources stock opened at $1.27 on Tuesday. American Resources has a 1 year low of $0.38 and a 1 year high of $1.95. The firm’s 50-day moving average is $1.13 and its two-hundred day moving average is $0.84. The stock has a market cap of $102.25 million, a price-to-earnings ratio of -2.59 and a beta of 0.89.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of American Resources from a “sell” rating to a “hold” rating in a report on Saturday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new stake in shares of American Resources in the 2nd quarter valued at about $139,000. JPMorgan Chase & Co. raised its position in American Resources by 86,418.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock worth $102,000 after buying an additional 122,714 shares during the last quarter. XTX Topco Ltd purchased a new position in American Resources during the 2nd quarter worth approximately $33,000. Finally, Creative Planning raised 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 buying an additional 15,000 shares during the last quarter. 9.32% of the stock is currently owned by 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.