StockNews.com Initiates Coverage on Arch Resources (NYSE:ARCH)

Equities research analysts at StockNews.com initiated coverage on shares of Arch Resources (NYSE:ARCH) in a research report issued on Sunday. The brokerage set a “hold” rating on the energy company’s stock.

ARCH has been the subject of a number of other reports. B. Riley lowered their price target on shares of Arch Resources from $198.00 to $188.00 and set a “buy” rating for the company in a report on Friday, September 6th. Benchmark reaffirmed a “buy” rating and set a $180.00 price objective on shares of Arch Resources in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $175.75.

Arch Resources Price Performance

Shares of Arch Resources stock opened at $144.00 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.54 and a quick ratio of 1.77. Arch Resources has a one year low of $116.44 and a one year high of $187.60. The business’s 50 day simple moving average is $135.30 and its two-hundred day simple moving average is $147.52. The stock has a market capitalization of $2.60 billion, a P/E ratio of 10.46 and a beta of 0.60.

Insider Buying and Selling

In other Arch Resources news, VP Deck Slone sold 253 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $144.75, for a total transaction of $36,621.75. Following the transaction, the vice president now directly owns 29,120 shares of the company’s stock, valued at approximately $4,215,120. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Strategies Group Inc. boosted its holdings in shares of Arch Resources by 49.7% during the 3rd quarter. Financial Strategies Group Inc. now owns 2,734 shares of the energy company’s stock valued at $399,000 after buying an additional 908 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Arch Resources by 17.7% during the third quarter. Janney Montgomery Scott LLC now owns 18,390 shares of the energy company’s stock worth $2,541,000 after acquiring an additional 2,760 shares in the last quarter. FCG Investment Co bought a new stake in Arch Resources during the third quarter worth about $1,005,000. Jade Capital Advisors LLC purchased a new stake in Arch Resources in the third quarter worth about $691,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Arch Resources by 437.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 62,433 shares of the energy company’s stock valued at $8,626,000 after purchasing an additional 50,819 shares in the last quarter. Hedge funds and other institutional investors own 88.14% of the company’s stock.

About Arch Resources

Arch Resources, Inc engages in the production and sale of metallurgical products. It operates in two segments, Metallurgical and Thermal. The company operates active mines. It owned or controlled primarily through long-term leases of coal land in Ohio, Maryland, Virginia, West Virginia, Wyoming, Kentucky, Montana, Pennsylvania, Colorado, and Illinois; and smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.