American Resources (NASDAQ:AREC) Stock Rating Upgraded by Wall Street Zen

Key Points

• American Resources had its stock rating upgraded from a "sell" to a "hold" by Wall Street Zen.
• The company reported a loss of $0.24 earnings per share for the last quarter, with revenues of only $0.05 million.
• Major investment firms have significantly increased their positions in American Resources, with Jane Street Group raising its stake by 84.5% and JPMorgan Chase lifting its position by 86,418.3%.

American Resources (NASDAQ:AREC - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

American Resources Stock Performance

NASDAQ AREC opened at $1.45 on Friday. The company has a market capitalization of $116.74 million, a PE ratio of -2.96 and a beta of 0.89. The business's fifty day moving average is $1.12 and its 200 day moving average is $0.83. American Resources has a fifty-two week low of $0.38 and a fifty-two week high of $1.95.

American Resources (NASDAQ:AREC - Get Free Report) last released its earnings results on Monday, May 19th. The company reported ($0.24) earnings per share for the quarter. The company had revenue of $0.05 million during the quarter. On average, sell-side analysts forecast that American Resources will post -0.38 EPS for the current year.

Hedge Funds Weigh In On American Resources

Large investors have recently made changes to their positions in the business. Jane Street Group LLC lifted its position in shares of 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. JPMorgan Chase & Co. lifted its position 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 valued at $102,000 after acquiring an additional 122,714 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of American Resources in the second quarter valued at about $33,000. Creative Planning lifted its position in shares of 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. Finally, Virtu Financial LLC lifted its position 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 acquiring an additional 74,464 shares in the last quarter. 9.32% of the stock is currently owned by hedge funds and other institutional investors.

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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