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

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

American Resources Stock Down 8.2 %

American Resources stock opened at $1.01 on Thursday. The company’s 50-day moving average price is $1.10 and its two-hundred day moving average price is $0.84. The stock has a market cap of $78.20 million, a P/E ratio of -2.59 and a beta of 0.21. American Resources has a twelve month low of $0.41 and a twelve month high of $1.78.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AREC. Roth Mkm dropped their price objective on American Resources from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. D. Boral Capital reaffirmed a “buy” rating and set a $4.00 price target on shares of American Resources in a report on Thursday, November 21st.

Hedge Funds Weigh In On American Resources

A hedge fund recently raised its stake in American Resources stock. Geode Capital Management LLC boosted its position in American Resources Co. (NASDAQ:AREC) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 637,722 shares of the company’s stock after purchasing an additional 15,350 shares during the quarter. Geode Capital Management LLC owned about 0.82% of American Resources worth $580,000 at the end of the most recent reporting period. 9.32% of the stock is currently owned by institutional investors.

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.