American Resources Corporation (NASDAQ:AREC - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 11,450 call options on the stock. This represents an increase of approximately 339% compared to the average daily volume of 2,607 call options.
American Resources Trading Up 34.2%
NASDAQ:AREC traded up $1.70 during trading hours on Tuesday, hitting $6.68. The stock had a trading volume of 21,270,789 shares, compared to its average volume of 3,907,285. American Resources has a 1-year low of $0.38 and a 1-year high of $6.73. The business has a 50 day simple moving average of $2.36 and a two-hundred day simple moving average of $1.40. The company has a market cap of $565.45 million, a PE ratio of -13.41 and a beta of 1.14.
American Resources (NASDAQ:AREC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $16.40 million. Research analysts expect that American Resources will post -0.38 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. D. Boral Capital assumed coverage on shares of American Resources in a research report on Monday, September 15th. They set a "buy" rating and a $6.00 price objective for the company. Roth Capital reaffirmed a "buy" rating and set a $5.00 price target on shares of American Resources in a research note on Monday. 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 research note on Sunday, September 28th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of American Resources in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $5.50.
Read Our Latest Analysis on American Resources
Institutional Trading of American Resources
Hedge funds have recently made changes to their positions in the stock. Creative Planning grew its position in shares of American Resources by 65.5% during 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 in the last quarter. XTX Topco Ltd bought a new stake in American Resources in the second quarter valued at $33,000. Virtu Financial LLC raised its stake in shares of American Resources by 271.3% during 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 in the last quarter. JPMorgan Chase & Co. raised its stake in shares of American Resources by 86,418.3% during the second 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 in the last quarter. Finally, Jane Street Group LLC bought a new stake in American Resources in the second quarter worth about $139,000. Institutional investors and hedge funds own 9.32% of the company's stock.
American Resources Company Profile
(
Get Free Report)
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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