American Resources (NASDAQ:AREC) Major Shareholder Sells $1,120,000.00 in Stock

Key Points

• Properties Ltd. Golden, a major shareholder of American Resources, sold 1 million shares for a total of $1,120,000, reducing their ownership by 6.95%.
• American Resources' stock price was $3.72 after trading down on Wednesday, with a 12-month low of $0.38 and a high of $7.11.
• Analysts have given mixed ratings on American Resources, with a Moderate Buy average rating, and price targets ranging up to $6.00 from various firms.

American Resources Corporation (NASDAQ:AREC - Get Free Report) major shareholder Properties Ltd. Golden sold 1,000,000 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $1.12, for a total value of $1,120,000.00. Following the transaction, the insider directly owned 13,389,960 shares of the company's stock, valued at $14,996,755.20. This trade represents a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Properties Ltd. Golden also recently made the following trade(s):

• On Tuesday, August 19th, Properties Ltd. Golden sold 1,000,000 shares of American Resources stock. The shares were sold at an average price of $1.26, for a total value of $1,260,000.00.
• On Friday, October 17th, Properties Ltd. Golden sold 980,000 shares of American Resources stock. The stock was sold at an average price of $4.06, for a total transaction of $3,978,800.00.
• On Monday, October 20th, Properties Ltd. Golden sold 20,000 shares of American Resources stock. The shares were sold at an average price of $4.12, for a total transaction of $82,400.00.

American Resources Stock Performance

Shares of NASDAQ AREC traded down $0.51 during mid-day trading on Wednesday, hitting $3.72. 11,728,131 shares of the stock were exchanged, compared to its average volume of 12,451,953. The stock's fifty day simple moving average is $2.80 and its two-hundred day simple moving average is $1.59. American Resources Corporation has a twelve month low of $0.38 and a twelve month high of $7.11. The company has a market cap of $314.75 million, a P/E ratio of -7.59 and a beta of 1.14.

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

Institutional Investors Weigh In On American Resources

Several institutional investors have recently added to or reduced their stakes in the business. CWM LLC acquired a new position in American Resources during the third quarter worth $429,000. Jane Street Group LLC purchased a new position in shares of American Resources in the 2nd quarter worth about $139,000. XTX Topco Ltd purchased a new position in shares of American Resources in the 2nd quarter worth about $33,000. JPMorgan Chase & Co. raised its holdings in shares of American Resources by 86,418.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company's stock valued at $102,000 after buying an additional 122,714 shares during the period. Finally, Creative Planning boosted its stake in American Resources by 65.5% during the 2nd quarter. Creative Planning now owns 37,892 shares of the company's stock valued at $31,000 after acquiring an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 9.32% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. William Blair began coverage on shares of American Resources in a report on Monday. They issued an "outperform" rating for the company. D Boral Capital upgraded shares of American Resources to a "strong-buy" rating in a research report on Monday, September 15th. D. Boral Capital initiated coverage on shares of American Resources in a research note on Monday, September 15th. They set a "buy" rating and a $6.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of American Resources in a report on Wednesday, October 8th. Finally, Roth Capital restated a "buy" rating and set a $5.00 price objective on shares of American Resources in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, American Resources presently has an average rating of "Moderate Buy" and an average price target of $5.50.

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.

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