ARQ (NASDAQ:ARQ) Issues Quarterly Earnings Results

ARQ (NASDAQ:ARQ) issued its quarterly earnings results on Wednesday. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.04), Zacks reports. The business had revenue of $35.07 million for the quarter, compared to the consensus estimate of $35.63 million. ARQ had a negative return on equity of 0.07% and a negative net margin of 1.40%.

ARQ Price Performance

ARQ stock traded down $2.26 during midday trading on Thursday, reaching $4.10. 1,998,066 shares of the stock were exchanged, compared to its average volume of 260,427. The company’s fifty day moving average is $7.05 and its 200-day moving average is $5.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.65 and a current ratio of 1.10. The firm has a market cap of $174.82 million, a PE ratio of -102.38 and a beta of 1.96. ARQ has a 52 week low of $3.34 and a 52 week high of $8.11.

Institutional Trading of ARQ

A number of hedge funds and other institutional investors have recently bought and sold shares of ARQ. Corient Private Wealth LLC bought a new stake in ARQ during the 2nd quarter worth approximately $440,000. Geode Capital Management LLC increased its holdings in ARQ by 9.7% during the 2nd quarter. Geode Capital Management LLC now owns 766,025 shares of the company’s stock worth $4,114,000 after acquiring an additional 67,430 shares during the period. Rhumbline Advisers increased its holdings in ARQ by 65.7% during the 2nd quarter. Rhumbline Advisers now owns 44,607 shares of the company’s stock worth $240,000 after acquiring an additional 17,688 shares during the period. Jane Street Group LLC bought a new stake in ARQ during the 2nd quarter worth approximately $93,000. Finally, American Century Companies Inc. increased its holdings in ARQ by 16.6% during the 2nd quarter. American Century Companies Inc. now owns 61,364 shares of the company’s stock worth $330,000 after acquiring an additional 8,722 shares during the period. Institutional investors own 18.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ARQ. Weiss Ratings reiterated a “sell (d-)” rating on shares of ARQ in a research note on Wednesday, October 8th. Wall Street Zen raised shares of ARQ from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Craig Hallum began coverage on shares of ARQ in a report on Tuesday, July 15th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Canaccord Genuity Group boosted their price target on shares of ARQ from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

About ARQ

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.