Shares of American Resources Co. (NASDAQ:AREC - Get Free Report) shot up 3% during mid-day trading on Thursday . The stock traded as high as $1.42 and last traded at $1.39. 124,241 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 217,196 shares. The stock had previously closed at $1.35.
American Resources Stock Up 3.0 %
The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.63 and a current ratio of 0.76. The firm's 50-day simple moving average is $1.45 and its 200 day simple moving average is $1.50. The stock has a market capitalization of $108.79 million, a P/E ratio of -9.93 and a beta of 0.39.
Institutional Investors Weigh In On American Resources
Several hedge funds have recently modified their holdings of the company. LPL Financial LLC raised its position in shares of American Resources by 34.4% in the 2nd quarter. LPL Financial LLC now owns 18,744 shares of the company's stock worth $27,000 after acquiring an additional 4,800 shares in the last quarter. Northern Trust Corp boosted its stake in shares of American Resources by 8.7% in the 2nd quarter. Northern Trust Corp now owns 108,657 shares of the company's stock worth $213,000 after buying an additional 8,659 shares during the last quarter. State Street Corp boosted its stake in shares of American Resources by 7.5% in the 2nd quarter. State Street Corp now owns 166,034 shares of the company's stock worth $241,000 after buying an additional 11,600 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of American Resources by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 2,200,927 shares of the company's stock worth $5,656,000 after buying an additional 18,930 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of American Resources in the 3rd quarter worth approximately $54,000. Institutional investors and hedge funds own 9.32% of the company's stock.
About American Resources
(
Get Free Report)
American Resources Corporation engages in the extraction, processing, transportation, distribution, and sale of metallurgical coal to the steel industries. The company supplies raw materials; and sells coal used in pulverized coal injections. It has a portfolio of operations located in the Pike, Knott, and Letcher Counties in Kentucky; and Wyoming County, West Virginia.
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