REX American Resources (NYSE:REX) Stock Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• REX American Resources' stock price recently crossed above its 200-day moving average, trading at $30.35, significantly higher than its moving average of $23.42.
• The company reported a quarterly earnings per share of $0.22, surpassing the consensus estimate of $0.19, but revenue was below expectations at $158.56 million compared to $165 million anticipated.
• Institutional investors own 88.12% of REX American Resources' stock, with significant recent increases in stakes from various firms, indicating strong institutional interest.

REX American Resources Corporation (NYSE:REX - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.42 and traded as high as $31.52. REX American Resources shares last traded at $30.35, with a volume of 288,087 shares.

REX American Resources Stock Down 1.1%

The business has a fifty day simple moving average of $28.55 and a 200-day simple moving average of $23.70. The firm has a market cap of $1.01 billion, a P/E ratio of 20.65 and a beta of 0.66.

REX American Resources (NYSE:REX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The energy company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. The business had revenue of $158.56 million during the quarter, compared to the consensus estimate of $165.00 million. REX American Resources had a return on equity of 8.09% and a net margin of 7.91%. On average, sell-side analysts anticipate that REX American Resources Corporation will post 2.93 EPS for the current fiscal year.

Hedge Funds Weigh In On REX American Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Elevation Point Wealth Partners LLC bought a new position in shares of REX American Resources during the second quarter valued at $33,000. AlphaQuest LLC bought a new position in shares of REX American Resources during the second quarter valued at $58,000. CWM LLC increased its holdings in shares of REX American Resources by 139.8% during the first quarter. CWM LLC now owns 1,990 shares of the energy company's stock valued at $75,000 after acquiring an additional 1,160 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of REX American Resources by 446.1% during the second quarter. Public Employees Retirement System of Ohio now owns 2,086 shares of the energy company's stock valued at $102,000 after acquiring an additional 1,704 shares in the last quarter. Finally, State of Wyoming bought a new stake in REX American Resources in the 2nd quarter worth about $140,000. 88.12% of the stock is currently owned by institutional investors.

REX American Resources Company Profile

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.