REX American Resources (NYSE:REX) Shares Gap Up – What’s Next?

REX American Resources Co. (NYSE:REX) shares gapped up before the market opened on Tuesday . 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 traded.

Analysts Set New Price Targets

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

REX American Resources Stock Performance

The stock has a market cap of $764.47 million, a price-to-earnings ratio of 11.06 and a beta of 0.90. The business’s 50 day moving average is $45.59 and its 200 day moving average is $46.30.

Hedge Funds Weigh In On REX American Resources

Several institutional investors and hedge funds have recently bought and sold shares of REX. The Manufacturers Life Insurance Company increased its position in REX American Resources by 3.9% during the second quarter. The Manufacturers Life Insurance Company now owns 6,134 shares of the energy company’s stock worth $280,000 after buying an additional 231 shares during the last quarter. Principal Financial Group Inc. grew its holdings in REX American Resources by 0.6% during the third quarter. Principal Financial Group Inc. now owns 78,632 shares of the energy company’s stock valued at $3,640,000 after purchasing an additional 432 shares during the last quarter. Diversified Trust Co raised its position in shares of REX American Resources by 10.5% in the second quarter. Diversified Trust Co now owns 4,854 shares of the energy company’s stock valued at $221,000 after purchasing an additional 460 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of REX American Resources by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,657 shares of the energy company’s stock worth $1,096,000 after buying an additional 569 shares during the period. Finally, FMR LLC grew its stake in REX American Resources by 34.8% in the 3rd quarter. FMR LLC now owns 2,345 shares of the energy company’s stock valued at $109,000 after buying an additional 605 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

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.