American Resources (NASDAQ:AREC) Shares Down 3.8% - Here's What Happened

Key Points

• Shares of American Resources Corporation (NASDAQ:AREC) fell by 3.8%, with trading activity showing a decline in volume of 33% compared to its average.
• The company reported an earnings per share (EPS) of (-$0.24) for the last quarter, with anticipated future EPS of (-$0.38) for the current year.
• A hedge fund, Jane Street Group LLC, increased its stake in the company by 84.5%, holding approximately 0.06% of the stock now valued at $44,000.

Shares of American Resources Corporation (NASDAQ:AREC - Get Free Report) were down 3.8% on Wednesday . The stock traded as low as $1.23 and last traded at $1.26. Approximately 1,625,507 shares traded hands during trading, a decline of 33% from the average daily volume of 2,414,567 shares. The stock had previously closed at $1.31.

American Resources Price Performance

The company's 50 day moving average price is $1.03 and its 200 day moving average price is $0.80. The firm has a market cap of $129.62 million, a PE ratio of -3.29 and a beta of 0.89.

American Resources (NASDAQ:AREC - Get Free Report) last posted its quarterly earnings data on Monday, May 19th. The company reported ($0.24) EPS for the quarter. The firm had revenue of $0.05 million for the quarter. Sell-side analysts expect that American Resources Corporation will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AREC. Virtu Financial LLC boosted its stake 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. Jane Street Group LLC raised its holdings in American Resources by 84.5% in the fourth 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 in the last quarter. Finally, Creative Planning raised its holdings in American Resources by 65.5% in the second quarter. Creative Planning now owns 37,892 shares of the company's stock valued at $31,000 after acquiring an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 9.32% of the company's stock.

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.