Robert E. Rasmus Purchases 12,535 Shares of Arq, Inc. (NASDAQ:ARQ) Stock

Arq, Inc. (NASDAQ:ARQ) CEO Robert E. Rasmus acquired 12,535 shares of ARQ stock in a transaction on Wednesday, May 14th. The stock was purchased at an average cost of $3.93 per share, with a total value of $49,262.55. Following the completion of the transaction, the chief executive officer now directly owns 20,718 shares in the company, valued at $81,421.74. This represents a 153.18% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

ARQ Stock Up 15.6%

ARQ stock opened at $4.68 on Friday. Arq, Inc. has a twelve month low of $3.34 and a twelve month high of $8.11. The firm has a 50 day moving average price of $4.04 and a 200-day moving average price of $5.67. The company has a market capitalization of $197.55 million, a P/E ratio of -468.00 and a beta of 1.51. The company has a quick ratio of 2.28, a current ratio of 2.89 and a debt-to-equity ratio of 0.08.

ARQ (NASDAQ:ARQ) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $27.04 million for the quarter, compared to analysts’ expectations of $28.34 million. ARQ had a negative net margin of 0.44% and a negative return on equity of 0.25%. During the same period in the prior year, the company posted $0.14 EPS. As a group, equities analysts predict that Arq, Inc. will post -0.13 EPS for the current year.

Institutional Trading of ARQ

A number of institutional investors have recently modified their holdings of ARQ. Avanza Fonder AB purchased a new stake in ARQ in the 4th quarter worth approximately $68,000. Price T Rowe Associates Inc. MD purchased a new stake in ARQ in the 4th quarter worth approximately $79,000. Walleye Capital LLC purchased a new stake in ARQ in the 1st quarter worth approximately $44,000. Intech Investment Management LLC purchased a new stake in ARQ in the 4th quarter worth approximately $89,000. Finally, SG Americas Securities LLC purchased a new stake in ARQ in the 4th quarter worth approximately $95,000. 18.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reduced their price objective on shares of ARQ from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, May 8th.

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.