REX American Resources (NYSE:REX) Shares Gap Up After Strong Earnings

REX American Resources Co. (NYSE:REX)’s stock price gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $43.45, but opened at $49.64. REX American Resources shares last traded at $44.96, with a volume of 64,460 shares changing hands.

The energy company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.66. REX American Resources had a net margin of 9.64% and a return on equity of 11.69%. During the same quarter in the prior year, the firm posted $1.49 earnings per share.

Analysts Set New Price Targets

Separately, Truist Financial dropped their target price on REX American Resources from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of REX. Victory Capital Management Inc. increased its stake in shares of REX American Resources by 15.9% in the third quarter. Victory Capital Management Inc. now owns 83,095 shares of the energy company’s stock valued at $3,846,000 after purchasing an additional 11,386 shares during the period. Principal Financial Group Inc. increased its position in REX American Resources by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 78,632 shares of the energy company’s stock valued at $3,640,000 after acquiring an additional 432 shares during the period. Millennium Management LLC raised its stake in REX American Resources by 61.4% during the 2nd quarter. Millennium Management LLC now owns 102,893 shares of the energy company’s stock valued at $4,691,000 after acquiring an additional 39,126 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in REX American Resources during the 3rd quarter worth $1,062,000. Finally, AQR Capital Management LLC grew its stake in shares of REX American Resources by 440.6% in the second quarter. AQR Capital Management LLC now owns 86,140 shares of the energy company’s stock worth $3,927,000 after purchasing an additional 70,207 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

REX American Resources Price Performance

The business has a fifty day moving average price of $45.42 and a 200 day moving average price of $46.16. The company has a market capitalization of $731.67 million, a price-to-earnings ratio of 10.60 and a beta of 0.90.

About REX American Resources

REX American Resources Corporation, together with its subsidiaries, produces and sells ethanol in the United States. The company also offers corn, distillers grains, ethanol, distillers corn oil, gasoline, and natural gas. In addition, it provides dry distillers grains with solubles, which is used as a protein in animal feed.