Geode Capital Management LLC Buys 4,545 Shares of Arq, Inc. (NASDAQ:ARQ)

Geode Capital Management LLC raised its stake in Arq, Inc. (NASDAQ:ARQ) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 596,468 shares of the company’s stock after purchasing an additional 4,545 shares during the quarter. Geode Capital Management LLC owned approximately 1.42% of ARQ worth $3,502,000 at the end of the most recent reporting period.

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

ARQ Stock Performance

Shares of ARQ stock opened at $7.55 on Tuesday. Arq, Inc. has a 52 week low of $2.50 and a 52 week high of $8.26. The company has a market capitalization of $317.34 million, a price-to-earnings ratio of -755.00 and a beta of 1.50. The company has a 50-day simple moving average of $7.03 and a 200 day simple moving average of $6.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.28 and a current ratio of 2.89.

ARQ (NASDAQ:ARQ) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $34.77 million for the quarter, compared to the consensus estimate of $30.60 million. ARQ had a negative return on equity of 0.25% and a negative net margin of 0.44%. During the same quarter in the prior year, the firm earned ($0.07) EPS. On average, sell-side analysts predict that Arq, Inc. will post -0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Canaccord Genuity Group initiated coverage on ARQ in a research report on Tuesday, November 19th. They set a “buy” rating and a $10.00 price target on the stock. Canaccord Genuity Group initiated coverage on ARQ in a research note on Tuesday, November 19th. They issued a “buy” rating and a $10.00 price target on the stock.

ARQ Company Profile

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.