American Resources Corporation (NASDAQ:AREC - Get Free Report) was the recipient of unusually large options trading on Wednesday. Traders purchased 2,810 call options on the company. Thisrepresentsanincreaseof162% compared to the typical volume of 1,074 call options.
Institutional Investors Weigh In On American Resources
Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning raised its position in American Resources by 65.5% during the 2nd quarter. Creative Planning now owns 37,892 shares of the company's stock valued at $31,000 after purchasing an additional 15,000 shares during the last quarter. XTX Topco Ltd bought a new position in American Resources during the 2nd quarter valued at approximately $33,000. Jane Street Group LLC raised its position in American Resources by 84.5% during the 4th quarter. Jane Street Group LLC now owns 43,809 shares of the company's stock valued at $44,000 after purchasing an additional 20,070 shares during the last quarter. Virtu Financial LLC raised its position in American Resources by 271.3% during the 1st 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 during the last quarter. Finally, JPMorgan Chase & Co. raised its position in American Resources by 86,418.3% during the 2nd 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 during the last quarter. Institutional investors own 9.32% of the company's stock.
American Resources Stock Up 9.7%
Shares of NASDAQ AREC traded up $0.20 during midday trading on Wednesday, reaching $2.30. The company had a trading volume of 4,501,311 shares, compared to its average volume of 3,516,814. American Resources has a one year low of $0.38 and a one year high of $2.49. The firm's fifty day moving average price is $1.23 and its 200-day moving average price is $0.88. The stock has a market cap of $194.86 million, a PE ratio of -4.79 and a beta of 0.89.
American Resources (NASDAQ:AREC - Get Free Report) last released its earnings results on Tuesday, August 19th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $16.40 million. As a group, equities research analysts expect that American Resources will post -0.38 EPS for the current year.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded American Resources from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $4.00.
View Our Latest Research Report on AREC
About American Resources
(
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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