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

American Resources Corporation (NASDAQ:AREC) was the target of unusually large options trading on Monday. Traders bought 16,635 call options on the company. This represents an increase of approximately 215% compared to the typical daily volume of 5,285 call options.

American Resources Trading Down 1.3%

Shares of AREC opened at $3.95 on Wednesday. The firm’s 50-day moving average is $3.18 and its two-hundred day moving average is $1.81. American Resources has a twelve month low of $0.38 and a twelve month high of $7.11. The firm has a market capitalization of $393.23 million, a P/E ratio of -8.40 and a beta of 1.14.

American Resources (NASDAQ:AREC) last issued its earnings results on Tuesday, August 19th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $16.40 million. Analysts predict that American Resources will post -0.38 EPS for the current year.

Insider Activity at American Resources

In other news, major shareholder Properties Ltd. Golden sold 20,000 shares of American Resources stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $4.12, for a total transaction of $82,400.00. Following the sale, the insider owned 11,389,960 shares in the company, valued at approximately $46,926,635.20. The trade was a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 2,000,000 shares of company stock worth $5,321,200 in the last 90 days. 16.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On American Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC lifted its stake in shares of American Resources by 271.3% during the first quarter. Virtu Financial LLC now owns 101,913 shares of the company’s stock valued at $48,000 after buying an additional 74,464 shares during the period. Jane Street Group LLC purchased a new position in shares of American Resources during the second quarter valued at approximately $139,000. JPMorgan Chase & Co. lifted its stake in shares of American Resources by 86,418.3% during the second quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock valued at $102,000 after buying an additional 122,714 shares during the period. XTX Topco Ltd purchased a new position in shares of American Resources during the second quarter valued at approximately $33,000. Finally, Creative Planning lifted its stake in shares of American Resources by 65.5% during the second quarter. Creative Planning now owns 37,892 shares of the company’s stock valued at $31,000 after buying an additional 15,000 shares during the period. Hedge funds and other institutional investors own 9.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AREC shares. William Blair started coverage on shares of American Resources in a research note on Monday, October 20th. They set an “outperform” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Resources in a report on Wednesday, October 8th. Wall Street Zen raised American Resources from a “sell” rating to a “hold” rating in a report on Sunday, September 28th. D Boral Capital raised American Resources to a “strong-buy” rating in a report on Monday, September 15th. Finally, D. Boral Capital started coverage on American Resources in a report on Monday, September 15th. They issued a “buy” rating and a $6.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, American Resources has an average rating of “Moderate Buy” and an average target price of $5.50.

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.