ARQ (NASDAQ:ARQ) CTO Joseph Wong Acquires 10,000 Shares

Arq, Inc. (NASDAQ:ARQ) CTO Joseph Wong acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was purchased at an average price of $1.89 per share, with a total value of $18,900.00. Following the acquisition, the chief technology officer owned 400,686 shares of the company’s stock, valued at $757,296.54. This represents a 2.56% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

ARQ Stock Up 8.9%

ARQ stock traded up $0.17 on Thursday, hitting $2.07. 1,048,397 shares of the stock traded hands, compared to its average volume of 792,569. Arq, Inc. has a 1 year low of $1.54 and a 1 year high of $7.89. The firm has a market cap of $88.70 million, a P/E ratio of -1.63 and a beta of 1.96. The company has a current ratio of 1.04, a quick ratio of 0.66 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $3.35 and its 200 day simple moving average is $4.64.

ARQ (NASDAQ:ARQ) last released its earnings results on Monday, March 9th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). ARQ had a negative return on equity of 1.99% and a negative net margin of 43.72%.The business had revenue of $29.43 million during the quarter, compared to analysts’ expectations of $28.59 million. As a group, sell-side analysts forecast that Arq, Inc. will post -0.13 earnings per share for the current year.

Institutional Trading of ARQ

A number of institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in ARQ by 13.7% in the second quarter. The Manufacturers Life Insurance Company now owns 11,739 shares of the company’s stock worth $63,000 after buying an additional 1,413 shares during the last quarter. Geode Capital Management LLC increased its position in shares of ARQ by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 778,142 shares of the company’s stock valued at $2,545,000 after acquiring an additional 3,505 shares in the last quarter. Barclays PLC raised its holdings in ARQ by 12.0% in the 4th quarter. Barclays PLC now owns 49,829 shares of the company’s stock worth $163,000 after acquiring an additional 5,319 shares during the last quarter. State Street Corp raised its holdings in ARQ by 1.0% in the 4th quarter. State Street Corp now owns 561,888 shares of the company’s stock worth $1,837,000 after acquiring an additional 5,413 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in ARQ by 17.9% in the 3rd quarter. Gabelli Funds LLC now owns 50,000 shares of the company’s stock valued at $358,000 after acquiring an additional 7,600 shares in the last quarter. 18.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ARQ has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ARQ in a report on Wednesday, January 21st. Zacks Research raised ARQ from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Finally, Canaccord Genuity Group lowered their price objective on ARQ from $7.50 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.50.

ARQ Company Profile

Arq, Inc is a holding company. It engages in the provision of environmental and emission control equipment to the power generation industry. The company operates through the following Segments: Refined Coal and Advanced Purification Technologies. The Refined Coal segment includes the Tinuum Group, Tinuum Services, and GWN Manager. The Advanced Purification Technologies segment refers to the sale of Activated Carbon Injection and Dry Sorbent Injection equipment systems, chemical sales, consulting services, and other sales related to the reduction of emissions in the coal-fired electric generation process and the electric utility industry.