American Resources Sees Unusually High Options Volume (NASDAQ:AREC)

by · The Markets Daily

American Resources Corporation (NASDAQ:AREC – Get Free Report) was the target of unusually large options trading activity on Thursday. Stock investors purchased 16,039 put options on the company. This is an increase of 124% compared to the average daily volume of 7,148 put options.

American Resources Price Performance

AREC stock traded up $0.07 during mid-day trading on Thursday, reaching $2.20. 1,620,648 shares of the company traded hands, compared to its average volume of 4,930,077. The company has a fifty day moving average price of $3.45 and a 200-day moving average price of $2.26. American Resources has a 52-week low of $0.38 and a 52-week high of $7.11. The company has a market capitalization of $222.55 million, a P/E ratio of -5.30 and a beta of 1.12.

American Resources (NASDAQ:AREC – Get Free Report) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. The firm had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.01 million. As a group, analysts forecast that American Resources will post -0.38 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. D Boral Capital raised American Resources to a “strong-buy” rating in a research report on Monday, September 15th. Wall Street Zen raised American Resources from a “sell” rating to a “hold” rating in a research report on Sunday, November 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of American Resources in a report on Wednesday, October 8th. Roth Capital restated a “buy” rating and set a $5.00 price objective on shares of American Resources in a report on Monday, October 13th. Finally, Maxim Group began coverage on shares of American Resources in a research note on Wednesday, November 26th. They issued a “buy” rating and a $7.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Get Our Latest Stock Analysis on American Resources

Insider Buying and Selling

In other American Resources news, major shareholder Properties Ltd. Golden sold 290,000 shares of American Resources stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $4.13, for a total transaction of $1,197,700.00. Following the transaction, the insider owned 10,288,832 shares of the company’s stock, valued at $42,492,876.16. This trade represents a 2.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 2,564,818 shares of company stock valued at $10,405,579. Company insiders own 16.80% of the company’s stock.

Institutional Investors Weigh In On American Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of American Resources by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,124,973 shares of the company’s stock worth $8,437,000 after buying an additional 120,065 shares during the last quarter. Millennium Management LLC purchased a new position in American Resources during the 3rd quarter valued at $1,524,000. Two Sigma Investments LP bought a new position in American Resources in the 3rd quarter worth $790,000. Jane Street Group LLC bought a new stake in shares of American Resources during the 2nd quarter valued at about $139,000. Finally, CWM LLC bought a new position in American Resources in the third quarter worth about $429,000. Institutional investors own 9.32% of the company’s stock.

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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