Fintel reports that on May 17, 2023, HC Wainwright & Co. maintained coverage of American Resources Corporation - (NASDAQ:AREC) with a Buy recommendation.
Analyst Price Forecast Suggests 208.05% Upside
As of May 11, 2023, the average one-year price target for American Resources Corporation - is 4.59. The forecasts range from a low of 4.04 to a high of $5.25. The average price target represents an increase of 208.05% from its latest reported closing price of 1.49.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for American Resources Corporation - is 147MM, an increase of 275.27%. The projected annual non-GAAP EPS is 0.04.
What is the Fund Sentiment?
There are 53 funds or institutions reporting positions in American Resources Corporation -. This is a decrease of 15 owner(s) or 22.06% in the last quarter. Average portfolio weight of all funds dedicated to AREC is 0.03%, an increase of 13.68%. Total shares owned by institutions decreased in the last three months by 8.26% to 10,139K shares. 
The put/call ratio of AREC is 0.29, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,757K shares representing 2.25% ownership of the company. No change in the last quarter.
Essex Investment Management Co holds 946K shares representing 1.21% ownership of the company. In it's prior filing, the firm reported owning 807K shares, representing an increase of 14.69%. The firm increased its portfolio allocation in AREC by 124,200.02% over the last quarter.
Janney Montgomery Scott holds 853K shares representing 1.09% ownership of the company. In it's prior filing, the firm reported owning 857K shares, representing a decrease of 0.56%. The firm increased its portfolio allocation in AREC by 118,338.09% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 734K shares representing 0.94% ownership of the company. In it's prior filing, the firm reported owning 733K shares, representing an increase of 0.16%. The firm decreased its portfolio allocation in AREC by 52.28% over the last quarter.
Bridgeway Capital Management holds 637K shares representing 0.81% ownership of the company. In it's prior filing, the firm reported owning 545K shares, representing an increase of 14.44%. The firm increased its portfolio allocation in AREC by 36.24% over the last quarter.
American Resources Background Information
(This description is provided by the company.)
American Resources Corporation is a supplier of high-quality raw materials to the rapidly growing global infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon deposits are concentrated. American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure market while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs.
Key filings for this company:
This story originally appeared on Fintel.
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