ARQ (NASDAQ:ARQ) Now Covered by Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of ARQ (NASDAQ:ARQ) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $10.00 target price on the stock.

Separately, Canaccord Genuity Group assumed coverage on ARQ in a research report on Tuesday. They set a “buy” rating and a $10.00 target price on the stock.

ARQ Price Performance

NASDAQ:ARQ opened at $7.57 on Tuesday. ARQ has a 52 week low of $2.40 and a 52 week high of $8.26. The company has a quick ratio of 2.28, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $318.17 million, a PE ratio of -757.00 and a beta of 1.40. The stock’s 50-day moving average price is $6.00 and its 200-day moving average price is $6.26.

ARQ (NASDAQ:ARQ) last posted its earnings results on Thursday, November 7th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). ARQ had a negative net margin of 0.44% and a negative return on equity of 0.25%. The business had revenue of $34.77 million for the quarter, compared to analyst estimates of $30.60 million. During the same quarter last year, the business earned ($0.07) earnings per share. As a group, equities analysts expect that ARQ will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Robert E. Rasmus bought 25,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were acquired at an average cost of $5.25 per share, for a total transaction of $131,250.00. Following the acquisition, the chief executive officer now directly owns 450,792 shares in the company, valued at approximately $2,366,658. This trade represents a 5.87 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Firsthand Capital Management Inc. acquired a new position in shares of ARQ during the 3rd quarter worth approximately $40,000. The Manufacturers Life Insurance Company acquired a new position in shares of ARQ during the 2nd quarter worth approximately $63,000. Murphy Pohlad Asset Management LLC acquired a new position in shares of ARQ during the 3rd quarter worth approximately $62,000. XTX Topco Ltd acquired a new position in shares of ARQ during the 2nd quarter worth approximately $64,000. Finally, Mraz Amerine & Associates Inc. acquired a new position in shares of ARQ during the 3rd quarter worth approximately $66,000. 18.49% of the stock is currently owned by institutional investors and hedge funds.

About ARQ

Arq, Inc produces activated carbon products in North America. The company's products include granular activated carbon, powdered and granular activated carbon, and colloidal carbon products; Arq Powder Wetcake, a fine and low-ash coal waste-derived particle; and additives for air emissions control.