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

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

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

ARQ Stock Up 3.8 %

Shares of NASDAQ ARQ opened at $7.92 on Tuesday. The company has a 50 day simple moving average of $5.93 and a 200-day simple moving average of $6.25. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 2.28. The company has a market capitalization of $332.88 million, a P/E ratio of -784.00 and a beta of 1.40. ARQ has a 1 year low of $2.31 and a 1 year high of $8.26.

ARQ (NASDAQ:ARQ) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $30.60 million. During the same period in the previous year, the business posted ($0.07) EPS. On average, equities research analysts predict that ARQ will post -0.13 earnings per share for the current year.

Insider Activity

In other ARQ news, CEO Robert E. Rasmus acquired 25,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was acquired at an average cost of $5.25 per share, with a total value of $131,250.00. Following the purchase, 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 filing with the SEC, which is available through this link. Insiders own 26.87% of the company’s stock.

Hedge Funds Weigh In On ARQ

Institutional investors and hedge funds have recently modified their holdings of the company. Firsthand Capital Management Inc. purchased a new stake in shares of ARQ during the 3rd quarter valued at $40,000. The Manufacturers Life Insurance Company acquired a new stake in shares of ARQ in the second quarter worth $63,000. Murphy Pohlad Asset Management LLC purchased a new position in shares of ARQ in the 3rd quarter valued at $62,000. XTX Topco Ltd purchased a new stake in shares of ARQ in the second quarter worth about $64,000. Finally, Mraz Amerine & Associates Inc. acquired a new position in shares of ARQ during the third quarter worth $66,000. Hedge funds and other institutional investors own 18.49% of the company’s stock.

ARQ Company Profile

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.