American Resources Co. (NASDAQ:AREC - Get Free Report) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,610,000 shares, an increase of 5.7% from the November 30th total of 2,470,000 shares. Approximately 5.1% of the company's stock are sold short. Based on an average trading volume of 316,900 shares, the short-interest ratio is currently 8.2 days.
Institutional Trading of American Resources
An institutional investor recently raised its position in American Resources stock. Geode Capital Management LLC increased its position in American Resources Co. (NASDAQ:AREC - Free Report) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 637,722 shares of the company's stock after buying an additional 15,350 shares during the period. Geode Capital Management LLC owned 0.82% of American Resources worth $580,000 at the end of the most recent quarter. 9.32% of the stock is owned by hedge funds and other institutional investors.
American Resources Stock Performance
Shares of NASDAQ AREC traded down $0.09 during midday trading on Wednesday, hitting $1.01. 590,331 shares of the company's stock traded hands, compared to its average volume of 308,643. The stock has a market capitalization of $78.20 million, a price-to-earnings ratio of -2.59 and a beta of 0.21. The firm has a fifty day moving average of $1.10 and a 200 day moving average of $0.84. American Resources has a 1 year low of $0.41 and a 1 year high of $1.78.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Roth Mkm dropped their price objective on American Resources from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. D. Boral Capital reiterated a "buy" rating and issued a $4.00 price target on shares of American Resources in a research note on Thursday, November 21st.
View Our Latest Research Report on AREC
About American Resources
(
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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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