The Manufacturers Life Insurance Company Acquires New Shares in Arq, Inc. (NASDAQ:ARQ)

The Manufacturers Life Insurance Company bought a new stake in Arq, Inc. (NASDAQ:ARQ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,356 shares of the company’s stock, valued at approximately $63,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARQ. XTX Topco Ltd bought a new stake in shares of ARQ in the 2nd quarter valued at $64,000. Cubist Systematic Strategies LLC bought a new stake in shares of ARQ in the second quarter worth about $71,000. Renaissance Technologies LLC acquired a new stake in shares of ARQ during the second quarter worth about $81,000. DCF Advisers LLC bought a new position in shares of ARQ during the 2nd quarter valued at about $134,000. Finally, Squarepoint Ops LLC bought a new position in shares of ARQ during the 2nd quarter valued at about $285,000. Institutional investors own 18.49% of the company’s stock.

ARQ Price Performance

NASDAQ ARQ opened at $5.83 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.83 and a current ratio of 2.68. The stock has a market cap of $210.11 million, a price-to-earnings ratio of -21.59 and a beta of 1.40. The business has a 50 day simple moving average of $5.96 and a 200 day simple moving average of $6.37. Arq, Inc. has a 52-week low of $1.60 and a 52-week high of $8.26.

ARQ (NASDAQ:ARQ) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $25.41 million for the quarter, compared to the consensus estimate of $20.60 million. ARQ had a negative return on equity of 2.38% and a negative net margin of 4.07%. During the same period in the prior year, the company earned ($0.21) EPS. Analysts anticipate that Arq, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at ARQ

In other news, CEO Robert E. Rasmus bought 25,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were purchased at an average price of $5.25 per share, for a total transaction of $131,250.00. Following the purchase, the chief executive officer now owns 450,792 shares of the company’s stock, valued at approximately $2,366,658. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.16% 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.