American Resources Co. (NASDAQ:AREC - Get Free Report)'s stock price shot up 1% on Wednesday . The company traded as high as $1.03 and last traded at $1.02. 215,602 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 303,081 shares. The stock had previously closed at $1.01.
Analyst Ratings Changes
Separately, Roth Mkm dropped their target price on American Resources from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Monday, September 30th.
Read Our Latest Research Report on American Resources
American Resources Price Performance
The company has a 50-day simple moving average of $0.82 and a two-hundred day simple moving average of $0.88.
American Resources (NASDAQ:AREC - Get Free Report) last announced its quarterly earnings data on Monday, August 19th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04). American Resources had a negative net margin of 332.74% and a negative return on equity of 978.72%. During the same period in the prior year, the company posted ($0.01) earnings per share. On average, equities research analysts forecast that American Resources Co. will post -0.36 EPS for the current fiscal year.
Hedge Funds Weigh In On American Resources
A hedge fund recently raised its stake in American Resources stock. Vanguard Group Inc. lifted its holdings in shares of American Resources Co. (NASDAQ:AREC - Free Report) by 7.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,988,101 shares of the company's stock after acquiring 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 & Exchange Commission. 9.32% of the stock is currently owned by institutional investors and hedge funds.
About American Resources
(
Get Free Report)
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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