American Resources Co. (NASDAQ:AREC – Get Free Report) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 2,520,000 shares, a growth of 8.6% from the July 15th total of 2,320,000 shares. Approximately 4.7% of the company’s shares are sold short. Based on an average daily volume of 455,800 shares, the days-to-cover ratio is currently 5.5 days.
Analyst Ratings Changes
Several equities analysts have weighed in on AREC shares. Roth Mkm reiterated a “buy” rating and issued a $5.00 target price on shares of American Resources in a report on Friday, May 24th. EF Hutton Acquisition Co. I upgraded shares of American Resources to a “strong-buy” rating in a report on Monday, June 3rd.
View Our Latest Report on AREC
Institutional Investors Weigh In On American Resources
American Resources Trading Up 3.7 %
Shares of American Resources stock traded up $0.02 on Friday, reaching $0.62. The company had a trading volume of 141,271 shares, compared to its average volume of 321,390. The firm’s 50 day moving average price is $0.69 and its two-hundred day moving average price is $1.14. The firm has a market cap of $49.09 million, a PE ratio of -4.77 and a beta of 0.31. American Resources has a 52-week low of $0.44 and a 52-week high of $1.86. The company has a debt-to-equity ratio of 230.66, a quick ratio of 0.29 and a current ratio of 0.30.
American Resources (NASDAQ:AREC – Get Free Report) last released its quarterly earnings results on Monday, May 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.10 million. American Resources had a negative net margin of 179.75% and a negative return on equity of 978.72%. During the same period in the previous year, the firm earned ($0.04) EPS. Sell-side analysts predict that American Resources will post -0.13 earnings per share for the current fiscal year.
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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