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 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. Currently, 5.1% of the shares of the stock are sold short. Based on an average daily volume of 316,900 shares, the days-to-cover ratio is presently 8.2 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in American Resources stock. Geode Capital Management LLC increased its position in shares of American Resources Co. (NASDAQ:AREC) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 637,722 shares of the company’s stock after purchasing an additional 15,350 shares during the period. Geode Capital Management LLC owned approximately 0.82% of American Resources worth $580,000 at the end of the most recent quarter. Institutional investors own 9.32% of the company’s stock.

Wall Street Analyst Weigh In

AREC has been the topic of a number of recent research reports. D. Boral Capital reaffirmed a “buy” rating and set a $4.00 price target on shares of American Resources in a research note on Thursday, November 21st. Roth Mkm decreased their target price 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.

American Resources Stock Performance

NASDAQ AREC opened at $0.66 on Friday. The business’s 50 day moving average price is $1.10 and its 200-day moving average price is $0.84. American Resources has a fifty-two week low of $0.41 and a fifty-two week high of $1.78. The company has a market cap of $50.83 million, a P/E ratio of -1.68 and a beta of 0.21.

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.