Short Interest in American Resources Co. (NASDAQ:AREC) Rises By 5.7%

American Resources Co. (NASDAQ:AREC) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,610,000 shares, an increase of 5.7% from the November 30th total of 2,470,000 shares. Currently, 5.1% of the company’s stock are short sold. Based on an average daily trading volume, of 316,900 shares, the days-to-cover ratio is presently 8.2 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in American Resources stock. Geode Capital Management LLC lifted its position in American Resources Co. (NASDAQ:AREC) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 637,722 shares of the company’s stock after buying an additional 15,350 shares during the quarter. Geode Capital Management LLC owned about 0.82% of American Resources worth $580,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 9.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AREC shares. Roth Mkm reduced their price target on American Resources from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Monday, September 30th. D. Boral Capital restated a “buy” rating and set a $4.00 target price on shares of American Resources in a report on Thursday, November 21st.

American Resources Stock Performance

NASDAQ:AREC opened at $1.01 on Thursday. The stock’s 50-day simple moving average is $1.10 and its 200 day simple moving average is $0.84. American Resources has a 52-week low of $0.41 and a 52-week high of $1.78. The company has a market cap of $78.20 million, a P/E ratio of -2.59 and a beta of 0.21.

American Resources Company Profile

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.