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

Canaccord Genuity Group started coverage on shares of ARQ (NASDAQ:ARQ) in a research note released on Tuesday morning,Briefing.com Automated Import reports. The firm issued a buy rating and a $10.00 target price on the stock.

ARQ Trading Up 3.8 %

NASDAQ ARQ opened at $7.92 on Tuesday. ARQ has a one year low of $2.31 and a one year high of $8.26. 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 has a 50 day simple moving average of $5.93 and a 200 day simple moving average of $6.25. The stock has a market capitalization of $332.88 million, a P/E ratio of -784.00 and a beta of 1.40.

ARQ (NASDAQ:ARQ) last released 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 firm had revenue of $34.77 million for the quarter, compared to the consensus estimate of $30.60 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. Research analysts expect that ARQ will post -0.13 earnings per share for the current year.

Insider Activity at ARQ

In other news, CEO Robert E. Rasmus bought 25,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was bought at an average price of $5.25 per share, for a total transaction of $131,250.00. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 26.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. AIGH Capital Management LLC bought a new stake in ARQ in the 2nd quarter valued at about $13,002,000. Dimensional Fund Advisors LP purchased a new stake in shares of ARQ in the second quarter worth about $1,524,000. Maven Securities LTD purchased a new position in ARQ during the second quarter valued at approximately $607,000. State Street Corp boosted its holdings 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 purchasing an additional 64,595 shares during the period. Finally, Perritt Capital Management Inc purchased a new position in shares of ARQ during the 2nd quarter valued at $367,000. 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.