American Resources (NASDAQ:AREC) Trading 5.4% Higher – What’s Next?

American Resources Co. (NASDAQ:AREC)’s stock price shot up 5.4% on Monday . The stock traded as high as $0.70 and last traded at $0.68. 567,606 shares traded hands during trading, an increase of 20% from the average session volume of 473,546 shares. The stock had previously closed at $0.65.

Analyst Upgrades and Downgrades

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $4.00 target price on shares of American Resources in a research report on Tuesday, January 7th.

American Resources Stock Down 0.5 %

The business has a 50 day simple moving average of $0.93 and a 200 day simple moving average of $0.84. The company has a market capitalization of $50.82 million, a PE ratio of -1.68 and a beta of 0.22.

Institutional Trading of American Resources

An institutional investor recently raised its position in American Resources stock. Geode Capital Management LLC grew its stake in American Resources Co. (NASDAQ:AREC) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 637,722 shares of the company’s stock after purchasing an additional 15,350 shares during the period. Geode Capital Management LLC owned about 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.

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.