Canaccord Genuity Group Issues Pessimistic Forecast for ARQ (NASDAQ:ARQ) Stock Price

ARQ (NASDAQ:ARQ) had its price objective dropped by investment analysts at Canaccord Genuity Group from $10.00 to $9.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 59.29% from the stock’s previous close.

Separately, Canaccord Genuity Group initiated coverage on ARQ in a research note on Tuesday, November 19th. They set a “buy” rating and a $10.00 target price for the company.

ARQ Price Performance

Shares of NASDAQ:ARQ traded down $0.43 during midday trading on Tuesday, hitting $5.65. The company had a trading volume of 108,340 shares, compared to its average volume of 231,695. ARQ has a twelve month low of $3.10 and a twelve month high of $8.26. The stock has a market cap of $237.47 million, a price-to-earnings ratio of -565.00 and a beta of 1.49. 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 business’s 50-day simple moving average is $6.80 and its 200-day simple moving average is $6.42.

Institutional Trading of ARQ

A number of institutional investors have recently added to or reduced their stakes in ARQ. Geode Capital Management LLC boosted its position in shares of ARQ by 0.8% in the 3rd 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 in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of ARQ during the 2nd quarter worth approximately $71,000. Barclays PLC lifted its stake in ARQ by 286.9% in the 3rd quarter. Barclays PLC now owns 33,350 shares of the company’s stock valued at $196,000 after buying an additional 24,731 shares in the last quarter. State Street Corp lifted its stake in 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 buying an additional 64,595 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in ARQ by 130.6% during the 3rd quarter. Jane Street Group LLC now owns 30,436 shares of the company’s stock valued at $179,000 after buying an additional 17,240 shares during the last quarter. Hedge funds and other institutional investors own 18.49% of the company’s 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.