REX American Resources Co. (NYSE:REX) Sees Significant Increase in Short Interest

REX American Resources Co. (NYSE:REX - Get Free Report) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 688,100 shares, an increase of 36.9% from the March 31st total of 502,500 shares. Approximately 4.4% of the company's shares are sold short. Based on an average daily volume of 141,000 shares, the short-interest ratio is currently 4.9 days.

REX American Resources Trading Up 2.9 %

NYSE:REX traded up $1.16 on Thursday, hitting $40.48. 100,639 shares of the stock were exchanged, compared to its average volume of 151,594. The stock has a fifty day moving average of $38.13 and a 200-day moving average of $41.26. The stock has a market cap of $672.53 million, a PE ratio of 10.60 and a beta of 0.51. REX American Resources has a fifty-two week low of $33.45 and a fifty-two week high of $60.41.

REX American Resources (NYSE:REX - Get Free Report) last posted its earnings results on Wednesday, March 26th. The energy company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.36. The firm had revenue of $158.23 million during the quarter, compared to the consensus estimate of $163.00 million. REX American Resources had a net margin of 10.07% and a return on equity of 11.05%. During the same quarter in the prior year, the company earned $1.16 EPS. As a group, analysts predict that REX American Resources will post 2.93 earnings per share for the current year.

REX American Resources declared that its board has authorized a stock buyback plan on Wednesday, March 26th that allows the company to buyback 1,500,000 outstanding shares. This buyback authorization allows the energy company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Truist Financial reissued a "buy" rating and set a $50.00 price objective (down from $55.00) on shares of REX American Resources in a research note on Thursday, March 27th.

Institutional Trading of REX American Resources

A number of institutional investors have recently added to or reduced their stakes in REX. AlphaQuest LLC acquired a new position in shares of REX American Resources during the fourth quarter worth about $46,000. CWM LLC raised its holdings in shares of REX American Resources by 139.8% during the 1st quarter. CWM LLC now owns 1,990 shares of the energy company's stock valued at $75,000 after buying an additional 1,160 shares during the period. State of Wyoming lifted its position in REX American Resources by 67.3% during the 4th quarter. State of Wyoming now owns 3,616 shares of the energy company's stock worth $151,000 after acquiring an additional 1,454 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in REX American Resources in the 4th quarter worth approximately $200,000. Finally, South Dakota Investment Council purchased a new position in REX American Resources in the 1st quarter worth approximately $210,000. 88.12% of the stock is owned by hedge funds and other institutional investors.

About REX American Resources

REX American Resources Corporation, together with its subsidiaries, produces and sells ethanol in the United States. The company also offers corn, distillers grains, ethanol, distillers corn oil, gasoline, and natural gas. In addition, it provides dry distillers grains with solubles, which is used as a protein in animal feed.