REX American Resources (NYSE:REX) Shares Gap Up Following Better-Than-Expected Earnings

Shares of REX American Resources Co. (NYSE:REX) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $36.61, but opened at $39.99. REX American Resources shares last traded at $38.81, with a volume of 39,578 shares trading hands.

The energy company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.36. REX American Resources had a return on equity of 11.05% and a net margin of 10.07%. During the same period in the previous year, the firm posted $1.16 EPS.

Analyst Upgrades and Downgrades

Separately, Truist Financial decreased their price target on REX American Resources from $60.00 to $55.00 and set a “buy” rating for the company in a report on Monday, December 9th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in REX. Illinois Municipal Retirement Fund increased its position in REX American Resources by 2.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 8,720 shares of the energy company’s stock worth $364,000 after purchasing an additional 245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in REX American Resources by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,771 shares of the energy company’s stock worth $366,000 after acquiring an additional 323 shares during the period. Principal Financial Group Inc. raised its position in REX American Resources by 0.6% in the third quarter. Principal Financial Group Inc. now owns 78,632 shares of the energy company’s stock worth $3,640,000 after acquiring an additional 432 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in REX American Resources by 5.4% in the fourth quarter. New York State Teachers Retirement System now owns 11,781 shares of the energy company’s stock valued at $491,000 after acquiring an additional 600 shares during the period. Finally, FMR LLC lifted its holdings in REX American Resources by 34.8% in the third quarter. FMR LLC now owns 2,345 shares of the energy company’s stock valued at $109,000 after acquiring an additional 605 shares during the period. 88.12% of the stock is owned by hedge funds and other institutional investors.

REX American Resources Stock Performance

The company has a market capitalization of $682.53 million, a PE ratio of 10.17 and a beta of 0.92. The firm’s 50-day simple moving average is $39.93 and its 200 day simple moving average is $42.65.

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.