HITE Hedge Asset Management LLC Purchases Shares of 2,318,401 American Resources Corporation $AREC

HITE Hedge Asset Management LLC purchased a new stake in shares of American Resources Corporation (NASDAQ:AREC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,318,401 shares of the company’s stock, valued at approximately $5,750,000.

Other institutional investors have also added to or reduced their stakes in the company. MSH Capital Advisors LLC purchased a new stake in American Resources during the fourth quarter valued at about $25,000. Creative Planning boosted its position in 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. State of Wyoming purchased a new stake in American Resources during the fourth quarter valued at about $32,000. Nomura Holdings Inc. purchased a new stake in American Resources during the third quarter valued at about $33,000. Finally, XTX Topco Ltd purchased a new stake in American Resources during the second quarter valued at about $33,000. 9.32% of the stock is currently owned by hedge funds and other institutional investors.

American Resources Stock Performance

American Resources stock opened at $2.14 on Friday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average of $2.26 and a 200-day moving average of $2.75. The firm has a market cap of $228.92 million, a P/E ratio of -5.22 and a beta of 1.09. American Resources Corporation has a 1-year low of $0.73 and a 1-year high of $7.11.

American Resources (NASDAQ:AREC) last posted its earnings results on Tuesday, May 19th. The company reported $0.75 earnings per share for the quarter. The firm had revenue of ($0.10) million for the quarter. Sell-side analysts expect that American Resources Corporation will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on AREC shares. Wall Street Zen lowered shares of American Resources from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Weiss Ratings lowered shares of American Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, American Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

American Resources Company Profile

American Resources Corporation (NASDAQ:AREC) is a diversified energy and critical minerals company focused on reclaiming coal refuse and mining high‐quality steam and metallurgical coal. The firm employs a vertically integrated business model that encompasses raw material extraction, on‐site processing and product delivery, supplying coal to power generators, steel manufacturers and industrial users.

Operating primarily in the Central Appalachian region of the United States, American Resources holds mining leases and reclamation permits across multiple sites in Kentucky, West Virginia and Indiana.