American Resources (NASDAQ:AREC) Major Shareholder Sells $3,978,800.00 in Stock

Key Points

• Major shareholder Properties Ltd. Golden sold 980,000 shares of American Resources stock for $3,978,800, resulting in a 7.91% decrease in their position.
• American Resources stock has traded at a 52-week low of $0.38 and reached a high of $7.11, with a current market cap of $400.21 million.
• Equities research analysts maintain a consensus rating of "Moderate Buy" for American Resources, with a target price averaging $5.50.

American Resources Corporation (NASDAQ:AREC - Get Free Report) major shareholder Properties Ltd. Golden sold 980,000 shares of the firm's stock in a transaction on Friday, October 17th. The stock was sold at an average price of $4.06, for a total transaction of $3,978,800.00. Following the completion of the sale, the insider directly owned 11,409,960 shares in the company, valued at approximately $46,324,437.60. This trade represents a 7.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major 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 Monday, October 20th, Properties Ltd. Golden sold 20,000 shares of American Resources stock. The stock was sold at an average price of $4.12, for a total transaction of $82,400.00.

American Resources Price Performance

American Resources stock traded up $0.73 during trading hours on Monday, reaching $4.73. The stock had a trading volume of 18,446,152 shares, compared to its average volume of 4,403,997. The stock has a market cap of $400.21 million, a PE ratio of -9.65 and a beta of 1.14. American Resources Corporation has a 52 week low of $0.38 and a 52 week high of $7.11. The company has a fifty day simple moving average of $2.65 and a 200-day simple moving average of $1.53.

American Resources (NASDAQ:AREC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $16.40 million. 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 hedge funds and other institutional investors have recently made changes to their positions in AREC. Creative Planning lifted its holdings in shares of American Resources by 65.5% in the 2nd 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. XTX Topco Ltd purchased a new position in American Resources during the 2nd quarter valued at about $33,000. Virtu Financial LLC increased its position in American Resources by 271.3% during the 1st 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. JPMorgan Chase & Co. increased its position in 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 purchasing an additional 122,714 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of American Resources in the 2nd quarter valued at about $139,000. Hedge funds and other institutional investors own 9.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. D Boral Capital raised shares of American Resources to a "strong-buy" rating in a research note on Monday, September 15th. Wall Street Zen raised shares of American Resources from a "sell" rating to a "hold" rating in a report on Sunday, September 28th. Roth Capital reaffirmed a "buy" rating and set a $5.00 target price on shares of American Resources in a report on Monday, October 13th. D. Boral Capital assumed coverage on shares of American Resources in a research report on Monday, September 15th. They issued a "buy" rating and a $6.00 price target for the company. Finally, William Blair began coverage on shares of American Resources in a research report on Monday. They issued an "outperform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.50.

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.

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