Arq, Inc. (NASDAQ:ARQ) Given Average Recommendation of “Hold” by Analysts

Arq, Inc. (NASDAQ:ARQ) has received an average rating of “Hold” from the five research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $9.00.

ARQ has been the subject of a number of research reports. Canaccord Genuity Group decreased their target price on ARQ from $11.00 to $8.00 and set a “buy” rating for the company in a report on Friday, November 7th. Zacks Research downgraded shares of ARQ from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of ARQ in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of ARQ from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

ARQ Trading Down 1.6%

Shares of ARQ opened at $3.60 on Friday. ARQ has a twelve month low of $3.18 and a twelve month high of $7.89. The firm has a market capitalization of $153.68 million, a P/E ratio of -36.00 and a beta of 1.98. The company has a current ratio of 1.10, a quick ratio of 0.71 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $3.70 and its 200 day simple moving average is $5.60.

ARQ (NASDAQ:ARQ) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). ARQ had a negative net margin of 3.33% and a negative return on equity of 1.11%. On average, equities research analysts forecast that ARQ will post -0.13 earnings per share for the current year.

Insider Activity

In related news, CEO Robert E. Rasmus bought 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $3.79 per share, for a total transaction of $189,500.00. Following the acquisition, the chief executive officer owned 70,718 shares in the company, valued at $268,021.22. This represents a 241.34% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard Campbell-Breeden bought 28,638 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was purchased at an average price of $3.54 per share, with a total value of $101,378.52. Following the completion of the purchase, the director directly owned 254,786 shares of the company’s stock, valued at approximately $901,942.44. This trade represents a 12.66% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 23.89% of the company’s stock.

Hedge Funds Weigh In On ARQ

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of ARQ by 555.9% during the third quarter. JPMorgan Chase & Co. now owns 98,071 shares of the company’s stock valued at $702,000 after acquiring an additional 83,119 shares in the last quarter. Worth Venture Partners LLC purchased a new position in ARQ in the third quarter valued at about $161,000. Verition Fund Management LLC grew its stake in ARQ by 65.3% during the 3rd quarter. Verition Fund Management LLC now owns 25,522 shares of the company’s stock valued at $183,000 after purchasing an additional 10,084 shares in the last quarter. Numerai GP LLC acquired a new stake in ARQ during the 3rd quarter valued at approximately $190,000. Finally, Millennium Management LLC purchased a new stake in ARQ during the 3rd quarter worth approximately $944,000. 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.