American Resources Co. (NASDAQ:AREC – Get Free Report) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 2,560,000 shares, a growth of 10.3% from the September 15th total of 2,320,000 shares. Approximately 5.0% of the shares of the company are short sold. Based on an average daily volume of 294,900 shares, the days-to-cover ratio is currently 8.7 days.
Analysts Set New Price Targets
Separately, Roth Mkm lowered their price target on shares of American Resources from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday, September 30th.
Check Out Our Latest Stock Analysis on American Resources
American Resources Stock Performance
American Resources (NASDAQ:AREC – Get Free Report) last issued its quarterly earnings data on Monday, August 19th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). American Resources had a negative return on equity of 978.72% and a negative net margin of 332.74%. During the same period in the previous year, the business posted ($0.01) EPS. On average, equities analysts forecast that American Resources will post -0.36 earnings per share for the current fiscal year.
Hedge Funds Weigh In On American Resources
An institutional investor recently raised its position in American Resources stock. Vanguard Group Inc. boosted its position in American Resources Co. (NASDAQ:AREC – Free Report) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,988,101 shares of the company’s stock after buying an additional 216,800 shares during the quarter. Vanguard Group Inc. owned approximately 3.77% of American Resources worth $4,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 9.32% of the company’s stock.
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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