CenterBook Partners LP Takes Position in Arq, Inc. $ARQ

CenterBook Partners LP acquired a new position in Arq, Inc. (NASDAQ:ARQ) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 230,869 shares of the company’s stock, valued at approximately $1,653,000. CenterBook Partners LP owned approximately 0.54% of ARQ at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Marex Group plc bought a new stake in ARQ during the second quarter valued at about $1,737,000. Gratia Capital LLC lifted its position in shares of ARQ by 23.7% during the 2nd quarter. Gratia Capital LLC now owns 857,962 shares of the company’s stock valued at $4,607,000 after buying an additional 164,310 shares in the last quarter. GatePass Capital LLC bought a new position in shares of ARQ during the 3rd quarter valued at approximately $637,000. JPMorgan Chase & Co. grew its stake in shares of ARQ by 555.9% during the 3rd 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 during the period. Finally, Corient Private Wealth LLC purchased a new stake in ARQ in the 2nd quarter worth approximately $440,000. 18.49% of the stock is owned by institutional investors.

ARQ Stock Performance

ARQ opened at $3.53 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.71 and a current ratio of 1.10. The stock has a market capitalization of $150.70 million, a price-to-earnings ratio of -35.30 and a beta of 1.97. The company has a fifty day moving average of $3.53 and a 200 day moving average of $5.20. Arq, Inc. has a fifty-two week low of $3.18 and a fifty-two week high of $7.89.

Wall Street Analyst Weigh In

ARQ has been the topic of several analyst reports. Canaccord Genuity Group set a $7.50 price target on shares of ARQ in a report on Thursday, January 15th. Wall Street Zen cut shares of ARQ from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ARQ in a research note on Wednesday, January 21st. Finally, Zacks Research raised ARQ from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. One investment 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’s stock. According to data from MarketBeat, ARQ has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

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. 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.