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

American Resources Co. (NASDAQ:AREC) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,610,000 shares, an increase of 5.7% from the November 30th total of 2,470,000 shares. Based on an average daily trading volume, of 316,900 shares, the days-to-cover ratio is currently 8.2 days. Currently, 5.1% of the company’s shares are sold short.

Institutional Investors Weigh In On American Resources

A hedge fund recently raised its stake in American Resources stock. Geode Capital Management LLC increased its holdings in shares of American Resources Co. (NASDAQ:AREC) by 2.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 637,722 shares of the company’s stock after purchasing an additional 15,350 shares during the period. Geode Capital Management LLC owned 0.82% of American Resources worth $580,000 as of its most recent SEC filing. Institutional investors and hedge funds own 9.32% of the company’s stock.

American Resources Stock Performance

Shares of NASDAQ AREC opened at $0.66 on Friday. American Resources has a 52-week low of $0.41 and a 52-week high of $1.78. The firm has a market capitalization of $50.83 million, a price-to-earnings ratio of -1.68 and a beta of 0.21. The stock has a 50 day moving average price of $1.10 and a 200 day moving average price of $0.84.

Analyst Upgrades and Downgrades

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

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.