Short Interest in American Resources Co. (NASDAQ:AREC) Decreases By 12.1%

American Resources Co. (NASDAQ:AREC) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 2,470,000 shares, a decrease of 12.1% from the November 15th total of 2,810,000 shares. Approximately 4.8% of the shares of the company are sold short. Based on an average daily trading volume, of 318,500 shares, the short-interest ratio is currently 7.8 days.

American Resources Stock Performance

Shares of AREC stock opened at $1.19 on Monday. The stock has a fifty day moving average price of $1.10 and a 200 day moving average price of $0.84. The stock has a market cap of $92.13 million, a PE ratio of -3.05 and a beta of 0.21. American Resources has a 1 year low of $0.41 and a 1 year high of $1.78.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in American Resources stock. Geode Capital Management LLC raised its holdings in shares of American Resources Co. (NASDAQ:AREC) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 637,722 shares of the company’s stock after acquiring an additional 15,350 shares during the quarter. Geode Capital Management LLC owned approximately 0.82% of American Resources worth $580,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 9.32% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. D. Boral Capital restated a “buy” rating and issued a $4.00 price target on shares of American Resources in a research note on Thursday, November 21st. Roth Mkm decreased their target price on shares of American Resources from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday, September 30th.

American Resources Company Profile

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.