American Resources Corporation (NASDAQ:AREC) price on Thursday, June 12, rose 9.38% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $0.78.
A look at the stock’s price movement, the close in the last trading session was $0.71. Turning to its 52-week performance, $1.68 and $0.38 were the 52-week high and 52-week low respectively. Overall, AREC moved -11.15% over the past month.
American Resources Corporation’s market cap currently stands at around $64.25 million, with investors looking forward to this quarter’s earnings report slated for in July.
Analysts have a consensus estimate of 16.4M for the company’s revenue for the quarter, with a low and high estimate of 16.4M and 16.4M respectively. The average forecast suggests up to a 399,900.00% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 95.95M, representing a 24,937.18% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that AREC is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend AREC as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
AREC’s current price about 3.65% and -0.74% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 51.39, while 7-day volatility ratio is 14.60% and 8.76% in the 30-day chart. Further, American Resources Corporation (AREC) has a beta value of 0.84, and an average true range (ATR) of 0.12.
If we refocus on American Resources Corporation (NASDAQ:AREC), historical trading data shows that trading volumes averaged 5.84 million over the past 3 months. The company’s latest data on shares outstanding shows there are 80.49 million shares.
The 33.53% of American Resources Corporation’s shares are in the hands of company insiders while institutional holders own 6.30% of the company’s shares. Current price change has pushed the stock -22.67% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the AREC stock continues to rise going into the next quarter.
