Short Interest in American Resources Co. (NASDAQ:AREC) Rises By 30.0%

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

American Resources Stock Performance

AREC stock opened at $0.48 on Tuesday. The stock has a market cap of $37.49 million, a P/E ratio of -1.24 and a beta of 0.31. The firm has a 50 day simple moving average of $0.64 and a 200 day simple moving average of $0.84. American Resources has a 52 week low of $0.41 and a 52 week high of $1.78.

Institutional Trading of American Resources

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in American Resources by 2.5% in the third 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 last quarter. Jane Street Group LLC lifted its stake in American Resources by 84.5% in 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, Virtu Financial LLC acquired a new stake in American Resources in the fourth quarter valued at approximately $28,000. 9.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.