American Resources (NASDAQ:AREC) Trading 5.4% Higher – Time to Buy?

American Resources Co. (NASDAQ:AREC) shares rose 5.4% during trading on Monday . The stock traded as high as $0.70 and last traded at $0.68. Approximately 567,606 shares traded hands during mid-day trading, an increase of 20% from the average daily volume of 473,546 shares. The stock had previously closed at $0.65.

Analyst Upgrades and Downgrades

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

American Resources Trading Up 5.4 %

The stock has a 50-day simple moving average of $0.96 and a 200-day simple moving average of $0.84. The company has a market capitalization of $52.65 million, a price-to-earnings ratio of -1.74 and a beta of 0.27.

Institutional Investors Weigh In On American Resources

An institutional investor recently raised its position in American Resources stock. Geode Capital Management LLC lifted its holdings in American Resources Co. (NASDAQ:AREC) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 637,722 shares of the company’s stock after purchasing an additional 15,350 shares during the quarter. Geode Capital Management LLC owned 0.82% of American Resources worth $580,000 as of its most recent filing with the 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.