Weiss Ratings Reiterates "Sell (D-)" Rating for American Resources (NASDAQ:AREC)

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for American Resources (NASDAQ:AREC), indicating continued bearish sentiment towards the stock.
• Despite Weiss's rating, other analysts like D Boral Capital have upgraded the stock to a "Strong Buy" and set a price target of $6.00, showing a divergence in analyst opinions.
• American Resources reported disappointing earnings, with an EPS of (0.10), falling short of the consensus estimate, and generated only $0.01 million in revenue against a forecast of $16.40 million.

American Resources (NASDAQ:AREC - Get Free Report)'s stock had its "sell (d-)" rating reiterated by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other analysts have also recently commented on the stock. D Boral Capital upgraded shares of American Resources to a "strong-buy" rating in a report on Monday, September 15th. D. Boral Capital initiated coverage on shares of American Resources in a report on Monday, September 15th. They set a "buy" rating and a $6.00 price target for the company. Finally, Wall Street Zen upgraded shares of American Resources from a "sell" rating to a "hold" rating in a report on Sunday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, American Resources has a consensus rating of "Moderate Buy" and a consensus target price of $6.00.

American Resources Price Performance

Shares of AREC traded down $0.07 during mid-day trading on Wednesday, hitting $3.82. The company's stock had a trading volume of 5,501,301 shares, compared to its average volume of 3,650,055. The firm has a 50-day moving average price of $2.11 and a 200 day moving average price of $1.29. The stock has a market capitalization of $323.21 million, a price-to-earnings ratio of -7.80 and a beta of 1.14. American Resources has a fifty-two week low of $0.38 and a fifty-two week high of $4.36.

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

Institutional Trading of American Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning lifted its stake in shares of American Resources by 65.5% in the second quarter. Creative Planning now owns 37,892 shares of the company's stock worth $31,000 after buying an additional 15,000 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of American Resources in the second quarter worth $33,000. Virtu Financial LLC lifted its stake in shares of American Resources by 271.3% in the first quarter. Virtu Financial LLC now owns 101,913 shares of the company's stock worth $48,000 after buying an additional 74,464 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of American Resources by 86,418.3% in the second quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company's stock worth $102,000 after buying an additional 122,714 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of American Resources in the second quarter worth $139,000. 9.32% of the stock is currently owned by institutional investors and hedge funds.

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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