American Resources Co. (NASDAQ:AREC) Short Interest Up 30.0% in February

American Resources Co. (NASDAQ:AREC) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 3,550,000 shares, a growth of 30.0% from the February 13th total of 2,730,000 shares. Based on an average trading volume of 891,800 shares, the days-to-cover ratio is currently 4.0 days. Approximately 6.9% of the company’s shares are short sold.

American Resources Stock Performance

AREC opened at $0.48 on Monday. The stock has a market capitalization of $37.16 million, a PE ratio of -1.23 and a beta of 0.31. American Resources has a one year low of $0.41 and a one year high of $1.78. The business’s 50 day moving average price is $0.64 and its 200 day moving average price is $0.84.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On American Resources

Several large investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in American Resources in the 4th quarter valued at about $28,000. Jane Street Group LLC increased its position in shares of American Resources by 84.5% during the fourth quarter. Jane Street Group LLC now owns 43,809 shares of the company’s stock valued at $44,000 after acquiring an additional 20,070 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of American Resources by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 637,722 shares of the company’s stock valued at $580,000 after acquiring an additional 15,350 shares during the period. Institutional investors and hedge funds 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.