Arq, Inc. (NASDAQ:ARQ) Sees Significant Drop in Short Interest

Arq, Inc. (NASDAQ:ARQ) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totalling 725,100 shares, a drop of 12.3% from the November 30th total of 826,400 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average trading volume of 244,900 shares, the short-interest ratio is presently 3.0 days.

Analyst Ratings Changes

Several equities research analysts have issued reports on ARQ shares. Canaccord Genuity Group assumed coverage on shares of ARQ in a research report on Tuesday, November 19th. They set a “buy” rating and a $10.00 target price for the company. Canaccord Genuity Group assumed coverage on ARQ in a report on Tuesday, November 19th. They set a “buy” rating and a $10.00 price objective on the stock.

Institutional Inflows and Outflows

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

ARQ Price Performance

ARQ stock opened at $7.22 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.28 and a current ratio of 2.89. The firm has a market cap of $303.47 million, a P/E ratio of -722.00 and a beta of 1.51. The firm’s fifty day moving average is $6.90 and its 200 day moving average is $6.30. ARQ has a 52 week low of $2.50 and a 52 week high of $8.26.

ARQ (NASDAQ:ARQ) last announced its quarterly 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 return on equity of 0.25% and a negative net margin of 0.44%. The company had revenue of $34.77 million during the quarter, compared to analysts’ expectations of $30.60 million. During the same period last year, the firm earned ($0.07) earnings per share. Research analysts predict that ARQ will post -0.13 earnings per share for the current year.

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.