D. Boral Capital Reaffirms “Buy” Rating for American Resources (NASDAQ:AREC)

D. Boral Capital restated their buy rating on shares of American Resources (NASDAQ:AREC) in a research note released on Thursday morning,Benzinga reports. D. Boral Capital currently has a $4.00 price objective on the stock.

Separately, Roth Mkm reduced their price objective on shares of American Resources from $5.00 to $4.00 and set a “buy” rating for the company in a report on Monday, September 30th.

American Resources Trading Down 3.3 %

NASDAQ:AREC opened at $1.16 on Thursday. The stock has a market capitalization of $89.81 million, a price-to-earnings ratio of -3.08 and a beta of 0.17. The firm has a fifty day simple moving average of $0.96 and a two-hundred day simple moving average of $0.85. American Resources has a 12 month low of $0.41 and a 12 month high of $1.86.

Institutional Inflows and Outflows

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

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.