American Resources Co. (NASDAQ:AREC) Sees Significant Increase in Short Interest

American Resources Co. (NASDAQ:AREC) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 3,550,000 shares, a growth of 30.0% from the February 13th total of 2,730,000 shares. Based on an average daily trading volume, of 891,800 shares, the short-interest ratio is presently 4.0 days. Approximately 6.9% of the company’s shares are short sold.

American Resources Stock Down 1.5 %

Shares of NASDAQ AREC opened at $0.48 on Wednesday. American Resources has a 52-week low of $0.41 and a 52-week high of $1.78. The firm has a fifty day moving average of $0.63 and a 200-day moving average of $0.84. The stock has a market capitalization of $36.91 million, a PE ratio of -1.22 and a beta of 0.31.

Institutional Trading of American Resources

Several institutional investors have recently made changes to their positions in AREC. Jane Street Group LLC lifted its holdings in shares of American Resources by 84.5% during the 4th quarter. Jane Street Group LLC now owns 43,809 shares of the company’s stock valued at $44,000 after acquiring an additional 20,070 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of American Resources during the 4th quarter valued at $28,000. Finally, Geode Capital Management LLC lifted its holdings in shares of American Resources by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 637,722 shares of the company’s stock valued at $580,000 after acquiring an additional 15,350 shares in the last quarter. 9.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, D. Boral Capital reissued a “buy” rating and set a $4.00 price objective on shares of American Resources in a research note on Tuesday, January 7th.

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.