Millennium Management LLC Boosts Stock Position in Arq, Inc. (NASDAQ:ARQ)

Millennium Management LLC grew its stake in shares of Arq, Inc. (NASDAQ:ARQ) by 167.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,470 shares of the company’s stock after buying an additional 96,057 shares during the period. Millennium Management LLC owned 0.37% of ARQ worth $1,162,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ARQ. Cerity Partners LLC bought a new stake in ARQ in the 4th quarter worth approximately $215,000. SG Americas Securities LLC bought a new stake in ARQ in the 4th quarter worth approximately $95,000. Wellington Management Group LLP bought a new stake in ARQ in the 4th quarter worth approximately $793,000. Dimensional Fund Advisors LP increased its stake in ARQ by 65.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 449,312 shares of the company’s stock worth $3,401,000 after acquiring an additional 177,550 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in ARQ by 956.7% in the 4th quarter. JPMorgan Chase & Co. now owns 114,735 shares of the company’s stock worth $869,000 after acquiring an additional 103,877 shares during the last quarter. 18.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jeremy Blank bought 50,000 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was purchased at an average cost of $4.10 per share, with a total value of $205,000.00. Following the acquisition, the director now directly owns 374,955 shares in the company, valued at $1,537,315.50. This trade represents a 15.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Campbell-Breeden bought 75,000 shares of the business’s stock in a transaction dated Friday, May 23rd. The shares were purchased at an average cost of $4.10 per share, with a total value of $307,500.00. Following the completion of the acquisition, the director now owns 226,148 shares in the company, valued at approximately $927,206.80. This represents a 49.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 165,856 shares of company stock worth $677,555 and have sold 20,588 shares worth $96,352. Corporate insiders own 26.87% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group decreased their price target on ARQ from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, May 8th.

ARQ Stock Down 0.4%

NASDAQ:ARQ opened at $5.13 on Thursday. Arq, Inc. has a 1-year low of $3.34 and a 1-year high of $8.11. The company has a 50-day moving average of $4.07 and a 200 day moving average of $5.51. The firm has a market cap of $216.54 million, a PE ratio of -513.00 and a beta of 1.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 2.28.

ARQ (NASDAQ:ARQ) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $27.04 million during the quarter, compared to analyst estimates of $28.34 million. ARQ had a negative net margin of 0.44% and a negative return on equity of 0.25%. During the same period in the prior year, the firm posted $0.14 earnings per share. As a group, research analysts anticipate that Arq, Inc. will post -0.13 EPS for the current fiscal year.

About ARQ

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.