Properties Ltd. Golden Sells 20,000 Shares of American Resources (NASDAQ:AREC) Stock

American Resources Corporation (NASDAQ:AREC) major shareholder Properties Ltd. Golden sold 20,000 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were 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 $46,926,635.20. The trade was a 0.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Properties Ltd. Golden also recently made the following trade(s):

• On Friday, October 17th, Properties Ltd. Golden sold 980,000 shares of American Resources stock. The shares were sold at an average price of $4.06, for a total transaction of $3,978,800.00.

American Resources Price Performance

Shares of AREC stock opened at $4.23 on Wednesday. The company has a market capitalization of $357.90 million, a price-to-earnings ratio of -8.63 and a beta of 1.14. American Resources Corporation has a one year low of $0.38 and a one year high of $7.11. The company’s fifty day moving average price is $2.76 and its 200-day moving average price is $1.58.

American Resources (NASDAQ:AREC) last posted 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 company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $16.40 million. Equities research analysts expect that American Resources Corporation will post -0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AREC has been the subject of several research analyst reports. William Blair initiated coverage on shares of American Resources in a research note on Monday. They set an “outperform” rating for the company. Wall Street Zen raised shares of American Resources from a “sell” rating to a “hold” rating in a research note on Sunday, September 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Resources in a research note on Wednesday, October 8th. Roth Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of American Resources in a research note on Monday, October 13th. Finally, D Boral Capital raised shares of American Resources to a “strong-buy” rating in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.50.

Hedge Funds Weigh In On American Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning grew its stake in shares of American Resources by 65.5% in the 2nd quarter. Creative Planning now owns 37,892 shares of the company’s stock worth $31,000 after buying an additional 15,000 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of American Resources in the 2nd quarter worth about $33,000. Virtu Financial LLC lifted its holdings in shares of American Resources by 271.3% in the 1st quarter. Virtu Financial LLC now owns 101,913 shares of the company’s stock worth $48,000 after acquiring an additional 74,464 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of American Resources by 86,418.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company’s stock worth $102,000 after acquiring an additional 122,714 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of American Resources in the 2nd quarter worth about $139,000. 9.32% of the stock is owned by hedge funds and other institutional investors.

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.