Wall Street Zen Upgrades American Resources (NASDAQ:AREC) to "Hold"

Key Points

• The stock of American Resources (NASDAQ:AREC) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating.
• D Boral Capital also recently initiated coverage with a "strong-buy" rating and a price target of $6.00 for AREC shares.
• American Resources reported a quarterly earnings miss, with a loss of ($0.10) per share compared to an expected ($0.05), and revenue significantly below forecasts at only $0.01 million.

American Resources (NASDAQ:AREC - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Sunday.

Other analysts also recently issued research reports about the company. D Boral Capital upgraded American Resources to a "strong-buy" rating in a research note on Monday, September 15th. D. Boral Capital began coverage on American Resources in a research report on Monday, September 15th. They set a "buy" rating and a $6.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $5.00.

American Resources Price Performance

Shares of AREC stock opened at $2.78 on Friday. American Resources has a 1-year low of $0.38 and a 1-year high of $3.09. The stock's fifty day moving average price is $1.84 and its 200 day moving average price is $1.16. The company has a market cap of $235.22 million, a price-to-earnings ratio of -5.67 and a beta of 1.02.

American Resources (NASDAQ:AREC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $16.40 million. As a group, equities research analysts anticipate that American Resources will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On American Resources

A number of hedge funds have recently bought and sold shares of the business. Jane Street Group LLC purchased a new position in American Resources during the second quarter worth approximately $139,000. JPMorgan Chase & Co. raised its holdings 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 acquiring an additional 122,714 shares during the last quarter. Virtu Financial LLC raised its holdings 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 acquiring an additional 74,464 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of American Resources during the second quarter valued at approximately $33,000. Finally, Creative Planning raised its holdings in shares of American Resources by 65.5% during the second quarter. Creative Planning now owns 37,892 shares of the company's stock valued at $31,000 after acquiring an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 9.32% of the company's stock.

About American Resources

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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