Positioning no disclosures inside 60 days, left as found
Options put/call open interest 5.90, read 2026-10-29
Ethical passes the values gate
Price38.86 USD
Fair value19.43
Our investment reviews on this name
2026-10-14Read Markdown42.09-7.7% to today ✓Accumulation gives way to Markdown
2026-10-02Read Accumulation43.28-10.2% to today Distribution gives way to Accumulation with volume flow in agreement
2026-08-11Read Distribution44.44-12.6% to today ✓Markup gives way to Distribution with volume flow in agreement
2026-07-02Read Markup44.92-13.5% to today First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
REX American Resources Corporation holds its Markdown at $38.86. Elevated stress, defensive posture warranted, held for 127 days.
As held on the ledger · 2026-10-29
Phase
Markdown · caution
Quantitative state
Elevated stress, defensive posture warranted, held for 127 days
Price at the screen
$38.86
Valuation
10.55 trailing · 16.96 forward price to earnings
Values screen
PASS
Beta
0.60
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
1.31%
Below 33%
Interest-bearing debt is just 1.3% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
23.20%
Below 33%
Cash held in interest-bearing accounts and securities is 23.2% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
2.31%
Below 5%
Only 2.3% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
REX American Resources clears all five screens. Its business is in a permissible area, its debt is near-nil, and interest is about 2% of its income, under the ~5% line, so it passes.
Read as at 2026-10-29. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when REX's ethical verdict changes
Today REX passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-29 screen. The gold marker is the market price at the same screen. The price runs 50.0% above the base estimate.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-29 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Corn prices and fuel blends offer no margin
Picture a Midwest ethanol plant turning corn into fuel additive. One good harvest or a policy tweak on blending mandates can swing results sharply, yet REX American Resources trades at nearly double our assessed fair value with a forward multiple of 20.8 times earnings.
The business clears an ethical screen and posts a moderate moat, 14 percent profit margins and 16 percent ROE. Still, 4 percent revenue growth does not justify the gap to fair value, and in a cyclical sector a seemingly reasonable multiple at peak conditions often signals the start of compression rather than a bargain.
Commodity volatility, policy shifts and thin demand visibility keep downside risk material even for a clean operator. Peak earnings rarely last, and paying a premium for them rarely ends well.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
REX trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-28Markdown$38.49-8.0%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 8.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 96%. Our forward projection puts the odds of a 10% gain over the next month near 28%.
2026-10-21Markdown$41.84-0.6%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.6% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 96%. Our forward projection puts the odds of a 10% gain over the next month near 28%.
2026-10-14Markdown · changed$42.09-2.7%Entry 7
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.7% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 33% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 96%. Our forward projection puts the odds of a 10% gain over the next month near 28%.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 4.4% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 33% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 96%. Our forward projection puts the odds of a 10% gain over the next month near 28%.
2026-09-11Distribution$41.46-6.7%Entry 5
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 6.7% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 33% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 96%. Our forward projection puts the odds of a 10% gain over the next month near 28%.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 1.1% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 33% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 96%. Our forward projection puts the odds of a 10% gain over the next month near 28%.
2026-07-18Markup$44.92+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 33% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 96%. Our forward projection puts the odds of a 10% gain over the next month near 28%.
2026-07-03Markup$44.92+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markup$44.92Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.