Insider Buying: ARQ (NASDAQ:ARQ) CFO Acquires $19,557.10 in Stock

Arq, Inc. (NASDAQ:ARQ) CFO Shimon Steinmetz bought 8,770 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was acquired at an average cost of $2.23 per share, for a total transaction of $19,557.10. Following the purchase, the chief financial officer owned 8,770 shares in the company, valued at approximately $19,557.10. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shimon Steinmetz also recently made the following trade(s):

• On Thursday, September 3rd, Shimon Steinmetz purchased 7,500 shares of ARQ stock. The shares were acquired at an average cost of $2.22 per share, with a total value of $16,650.00.

ARQ Stock Down 3.9%

NASDAQ ARQ traded down $0.09 during trading hours on Tuesday, hitting $2.21. The company had a trading volume of 76,125 shares, compared to its average volume of 499,664. Arq, Inc. has a fifty-two week low of $1.54 and a fifty-two week high of $7.70. The company has a market capitalization of $96.51 million, a price-to-earnings ratio of -1.75 and a beta of 2.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.03 and a quick ratio of 0.61. The firm’s 50 day moving average is $2.17 and its 200 day moving average is $2.43.

ARQ (NASDAQ:ARQ) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). ARQ had a negative net margin of 42.33% and a negative return on equity of 2.54%. The company had revenue of $29.88 million during the quarter, compared to analysts’ expectations of $28.57 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of ARQ in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.00.

Hedge Funds Weigh In On ARQ

Institutional investors have recently added to or reduced their stakes in the company. AXQ Capital LP purchased a new position in ARQ in the 2nd quarter valued at about $30,000. Round Rock Advisors LLC increased its position in shares of ARQ by 98.7% during the second quarter. Round Rock Advisors LLC now owns 378,979 shares of the company’s stock worth $966,000 after acquiring an additional 188,271 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of ARQ in the second quarter worth about $108,000. Corient Private Wealth LP acquired a new position in shares of ARQ in the second quarter worth about $198,000. Finally, Bank of America Corp DE purchased a new position in ARQ in the second quarter valued at about $590,000. Institutional investors and hedge funds own 18.49% of the company’s stock.

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.