REX American Resources (NYSE:REX) Shares Gap Up – Time to Buy?

REX American Resources Co. (NYSE:REX)’s stock price 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 changing hands.

Analyst Upgrades and Downgrades

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

REX American Resources Price Performance

The business has a 50 day moving average of $45.59 and a 200 day moving average of $46.30. The firm has a market capitalization of $764.47 million, a price-to-earnings ratio of 11.06 and a beta of 0.90.

Hedge Funds Weigh In On REX American Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of REX American Resources by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 1,201,410 shares of the energy company’s stock worth $70,535,000 after acquiring an additional 68,211 shares in the last quarter. Systematic Financial Management LP raised its position in REX American Resources by 8.3% in the 3rd quarter. Systematic Financial Management LP now owns 692,926 shares of the energy company’s stock valued at $32,076,000 after purchasing an additional 52,891 shares during the last quarter. Pacer Advisors Inc. acquired a new position in REX American Resources in the third quarter worth $20,590,000. Geode Capital Management LLC increased its stake in shares of REX American Resources by 2.0% in the third quarter. Geode Capital Management LLC now owns 365,780 shares of the energy company’s stock valued at $16,935,000 after buying an additional 7,080 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of REX American Resources by 148.8% in the second quarter. American Century Companies Inc. now owns 268,660 shares of the energy company’s stock valued at $12,248,000 after buying an additional 160,685 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

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.