American Resources (NASDAQ:AREC) Trading Up 25% - Still a Buy?

American Resources Co. (NASDAQ:AREC - Get Free Report) shot up 25% on Monday . The stock traded as high as $0.89 and last traded at $0.82. 9,668,242 shares changed hands during mid-day trading, an increase of 409% from the average session volume of 1,897,907 shares. The stock had previously closed at $0.66.

American Resources Trading Up 11.7%

The stock has a 50 day moving average of $0.81 and a 200-day moving average of $0.78. The stock has a market capitalization of $71.70 million, a P/E ratio of -2.23 and a beta of 0.84.

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

Hedge Funds Weigh In On American Resources

An institutional investor recently raised its position in American Resources stock. Virtu Financial LLC boosted its holdings in shares of American Resources Co. (NASDAQ:AREC - Free Report) by 271.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,913 shares of the company's stock after acquiring an additional 74,464 shares during the period. Virtu Financial LLC owned about 0.13% of American Resources worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.