American Resources (NASDAQ:AREC) Now Covered by Analysts at D. Boral Capital

Key Points

• D. Boral Capital has reiterated its "buy" rating for American Resources (AREC) with a target price of $6.00, suggesting a significant potential upside of 195.57% from the previous close.
• Separate from this, Wall Street Zen upgraded the stock from a "sell" to a "hold" rating, indicating a positive shift in analyst sentiment towards American Resources.
• American Resources reported a loss per share of ($0.10) for the last quarter, missing analyst expectations, with revenue significantly below forecasts at only $0.01 million.

D. Boral Capital began coverage on shares of American Resources (NASDAQ:AREC - Get Free Report) in a report released on Monday, Marketbeat.com reports. The firm set a "buy" rating and a $6.00 price target on the stock. D. Boral Capital's target price points to a potential upside of 110.90% from the company's previous close.

Separately, Wall Street Zen raised American Resources from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $5.00.

American Resources Trading Up 14.3%

Shares of AREC stock traded up $0.36 during trading hours on Monday, hitting $2.85. The company's stock had a trading volume of 3,518,640 shares, compared to its average volume of 3,525,138. The stock has a market cap of $240.71 million, a PE ratio of -5.82 and a beta of 1.02. American Resources has a 12-month low of $0.38 and a 12-month high of $2.92. The company has a 50 day moving average of $1.65 and a 200 day moving average of $1.06.

American Resources (NASDAQ:AREC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $16.40 million. As a group, analysts anticipate that American Resources will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of American Resources

Several institutional investors and hedge funds have recently bought and sold shares of AREC. Creative Planning grew 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 purchasing an additional 15,000 shares during the last quarter. Jane Street Group LLC raised its stake in American Resources by 84.5% during the 4th quarter. Jane Street Group LLC now owns 43,809 shares of the company's stock valued at $44,000 after acquiring an additional 20,070 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of American Resources in the 2nd quarter valued at approximately $33,000. Virtu Financial LLC increased its holdings in shares of American Resources by 271.3% in the first quarter. Virtu Financial LLC now owns 101,913 shares of the company's stock valued at $48,000 after purchasing an additional 74,464 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of American Resources by 86,418.3% in the second quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company's stock valued at $102,000 after purchasing an additional 122,714 shares during the period. Hedge funds and other institutional investors own 9.32% of the company's stock.

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.