JPMorgan Chase & Co. Reduces Stake in Arq, Inc. (NASDAQ:ARQ)

JPMorgan Chase & Co. trimmed its position in shares of Arq, Inc. (NASDAQ:ARQ) by 77.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,858 shares of the company’s stock after selling 38,198 shares during the quarter. JPMorgan Chase & Co.’s holdings in ARQ were worth $64,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ARQ. Dimensional Fund Advisors LP acquired a new stake in shares of ARQ during the 2nd quarter worth about $1,524,000. State Street Corp increased its holdings in shares of 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 in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of ARQ during the 2nd quarter worth approximately $285,000. Virtu Financial LLC purchased a new stake in ARQ in the 3rd quarter valued at approximately $217,000. Finally, Barclays PLC raised its holdings 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 acquiring an additional 24,731 shares during the last quarter. 18.49% of the stock is currently owned by hedge funds and other institutional investors.

ARQ Stock Down 0.5 %

ARQ stock opened at $6.21 on Tuesday. Arq, Inc. has a 12-month low of $2.70 and a 12-month high of $8.26. The company has a quick ratio of 2.28, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The company has a market cap of $261.02 million, a price-to-earnings ratio of -621.00 and a beta of 1.50. The company has a 50 day moving average of $6.94 and a two-hundred day moving average of $6.43.

ARQ (NASDAQ:ARQ) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $34.77 million during the quarter, compared to analyst estimates 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 business earned ($0.07) earnings per share. On average, equities analysts anticipate that Arq, Inc. will post -0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ARQ has been the subject of a number of research reports. Canaccord Genuity Group started coverage on shares of ARQ in a research report on Tuesday, November 19th. They set a “buy” rating and a $10.00 price target for the company. Canaccord Genuity Group began coverage on shares of ARQ in a research note on Tuesday, November 19th. They set a “buy” rating and a $10.00 price objective 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.