ARQ (NASDAQ:ARQ) Coverage Initiated by Analysts at Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of ARQ (NASDAQ:ARQ) in a report published on Tuesday,Briefing.com Automated Import reports. The firm issued a buy rating and a $10.00 price objective on the stock.

ARQ Trading Up 3.8 %

Shares of NASDAQ:ARQ opened at $7.92 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 stock’s 50-day moving average is $5.93 and its 200-day moving average is $6.25. The company has a market cap of $332.88 million, a P/E ratio of -784.00 and a beta of 1.40. ARQ has a 52-week low of $2.31 and a 52-week high of $8.26.

ARQ (NASDAQ:ARQ) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $34.77 million during the quarter, compared to analyst estimates of $30.60 million. During the same period last year, the company earned ($0.07) EPS. Equities research analysts predict that ARQ will post -0.13 earnings per share for the current year.

Insider Activity

In other news, CEO Robert E. Rasmus bought 25,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were bought at an average cost of $5.25 per share, with a total value of $131,250.00. Following the acquisition, the chief executive officer now owns 450,792 shares in the company, valued at $2,366,658. This trade represents a 5.87 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 26.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ARQ

Several hedge funds have recently bought and sold shares of ARQ. Barclays PLC raised its stake in ARQ by 286.9% in the 3rd quarter. Barclays PLC now owns 33,350 shares of the company’s stock worth $196,000 after purchasing an additional 24,731 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of ARQ by 0.8% during the third quarter. Geode Capital Management LLC now owns 596,468 shares of the company’s stock worth $3,502,000 after buying an additional 4,545 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of ARQ by 130.6% during the third quarter. Jane Street Group LLC now owns 30,436 shares of the company’s stock worth $179,000 after buying an additional 17,240 shares in the last quarter. State Street Corp lifted its stake in shares of ARQ by 19.6% in the 3rd quarter. State Street Corp now owns 394,751 shares of the company’s stock valued at $2,317,000 after acquiring an additional 64,595 shares during the last quarter. Finally, Firsthand Capital Management Inc. bought a new stake in shares of ARQ during the third quarter worth about $40,000. 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.