American Resources (NASDAQ:AREC) Posts Earnings Results

Key Points

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American Resources (NASDAQ:AREC - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05), Zacks reports. The firm had revenue of $0.01 million for the quarter, compared to analysts' expectations of $16.40 million.

American Resources Stock Performance

AREC traded up $0.33 during trading on Friday, hitting $1.78. The stock had a trading volume of 7,319,774 shares, compared to its average volume of 3,399,621. The company has a market capitalization of $150.61 million, a PE ratio of -3.63 and a beta of 0.89. American Resources has a twelve month low of $0.38 and a twelve month high of $1.95. The stock has a 50 day simple moving average of $1.19 and a two-hundred day simple moving average of $0.86.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of American Resources from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $4.00.

Institutional Investors Weigh In On American Resources

Several institutional investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in American Resources in the second quarter valued at approximately $139,000. JPMorgan Chase & Co. boosted its stake in 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 acquiring an additional 122,714 shares in the last quarter. XTX Topco Ltd acquired a new stake in American Resources in the second quarter valued at approximately $33,000. Finally, Creative Planning raised 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 buying an additional 15,000 shares during the last quarter. 9.32% of the stock is currently owned by institutional investors and hedge funds.

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.