American Resources Corporation (NASDAQ:AREC) Short Interest Update

Key Points

• American Resources Corporation (NASDAQ:AREC) experienced a 24.7% increase in short interest in August, rising from 5,070,000 to 6,320,000 shares.
• The company reported a net loss per share of ($0.10) for the last quarter, missing analysts' estimates of ($0.05).
• Institutional investors have recently made significant increases in their positions, with JPMorgan Chase boosting its stake by over 86,000% in the second quarter.

American Resources Corporation (NASDAQ:AREC - Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 6,320,000 shares, a growth of 24.7% from the August 15th total of 5,070,000 shares. Currently, 10.8% of the shares of the company are short sold. Based on an average daily trading volume, of 2,980,000 shares, the short-interest ratio is presently 2.1 days. Based on an average daily trading volume, of 2,980,000 shares, the short-interest ratio is presently 2.1 days. Currently, 10.8% of the shares of the company are short sold.

Hedge Funds Weigh In On American Resources

A number of institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in shares of American Resources during the 2nd quarter worth $139,000. XTX Topco Ltd bought a new position in shares of American Resources in the second quarter worth about $33,000. JPMorgan Chase & Co. lifted 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 worth $102,000 after acquiring an additional 122,714 shares during the last quarter. Creative Planning lifted its holdings in shares of American Resources by 65.5% in the second quarter. Creative Planning now owns 37,892 shares of the company's stock worth $31,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Virtu Financial LLC lifted 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 worth $48,000 after acquiring an additional 74,464 shares during the last quarter. Institutional investors and hedge funds own 9.32% of the company's stock.

American Resources Stock Up 3.1%

Shares of NASDAQ:AREC traded up $0.09 during trading on Monday, reaching $2.96. 4,188,086 shares of the company traded hands, compared to its average volume of 3,921,757. The company's 50 day moving average is $1.72 and its two-hundred day moving average is $1.10. The firm has a market capitalization of $250.45 million, a PE ratio of -6.04 and a beta of 1.01. American Resources has a 52 week low of $0.38 and a 52 week high of $3.09.

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

Analyst Ratings Changes

Several research analysts have weighed in on AREC shares. Wall Street Zen cut American Resources from a "hold" rating to a "sell" rating in a research report on Saturday. D Boral Capital upgraded American Resources to a "strong-buy" rating in a research report on Monday, September 15th. Finally, D. Boral Capital started coverage on American Resources in a research report on Monday, September 15th. They set a "buy" rating and a $6.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat, American Resources has an average rating of "Buy" and a consensus price target of $5.00.

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.