American Resources (NASDAQ:AREC) Rating Lowered to Sell at 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 report issued on Saturday.

Several other brokerages have also commented on AREC. D Boral Capital upgraded American Resources to a “strong-buy” rating in a report on Monday, September 15th. Roth Capital reiterated a “buy” rating and issued a $5.00 price target on shares of American Resources in a research note on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of American Resources in a report on Wednesday, October 8th. D. Boral Capital assumed coverage on American Resources in a research note on Monday, September 15th. They set a “buy” rating and a $6.00 price target on the stock. Finally, William Blair began coverage on shares of American Resources in a report on Monday, October 20th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, American Resources currently has an average rating of “Moderate Buy” and an average price target of $5.50.

American Resources Stock Performance

NASDAQ:AREC opened at $2.67 on Friday. The company’s 50-day simple moving average is $3.55 and its 200-day simple moving average is $2.03. American Resources has a fifty-two week low of $0.38 and a fifty-two week high of $7.11. The stock has a market capitalization of $270.72 million, a P/E ratio of -6.51 and a beta of 1.15.

American Resources (NASDAQ:AREC) last posted its earnings results on Friday, November 14th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. The firm had revenue of $0.05 million for the quarter, compared to analysts’ expectations of $0.01 million. On average, research analysts forecast that American Resources will post -0.38 EPS for the current year.

Insider Buying and Selling at American Resources

In other news, major shareholder Properties Ltd. Golden sold 980,000 shares of the firm’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $4.06, for a total value of $3,978,800.00. Following the completion of the transaction, the insider directly owned 11,409,960 shares in the company, valued at $46,324,437.60. This trade represents a 7.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 2,564,818 shares of company stock valued at $10,405,579 over the last quarter. 16.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On American Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in American Resources by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,124,973 shares of the company’s stock worth $8,437,000 after buying an additional 120,065 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of American Resources in the third quarter worth $1,524,000. Two Sigma Investments LP purchased a new position in shares of American Resources during the third quarter worth $790,000. Jane Street Group LLC acquired a new position in American Resources during the second quarter valued at $139,000. Finally, CWM LLC acquired a new position in American Resources during the third quarter valued at $429,000. Institutional investors and hedge funds own 9.32% of the company’s stock.

About American Resources

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.