Brokerages Set Arq, Inc. (NASDAQ:ARQ) Target Price at $9.00

Arq, Inc. (NASDAQ:ARQ) has been assigned an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $9.00.

Several research firms have issued reports on ARQ. Zacks Research lowered ARQ from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of ARQ in a report on Wednesday, October 8th. Wall Street Zen cut ARQ from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Canaccord Genuity Group cut their price target on ARQ from $11.00 to $8.00 and set a “buy” rating for the company in a report on Friday, November 7th.

ARQ Stock Performance

Shares of ARQ stock opened at $3.20 on Wednesday. The company has a fifty day moving average price of $4.75 and a two-hundred day moving average price of $5.79. ARQ has a one year low of $3.19 and a one year high of $7.89. The stock has a market cap of $136.62 million, a P/E ratio of -32.00 and a beta of 1.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.10 and a quick ratio of 0.71.

ARQ (NASDAQ:ARQ) last issued its earnings results on Wednesday, November 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). ARQ had a negative net margin of 3.33% and a negative return on equity of 1.11%. As a group, equities analysts predict that ARQ will post -0.13 EPS for the current year.

Insider Activity

In related news, Director Richard Campbell-Breeden acquired 28,638 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was purchased at an average cost of $3.54 per share, for a total transaction of $101,378.52. Following the completion of the transaction, the director directly owned 254,786 shares of the company’s stock, valued at approximately $901,942.44. The trade was a 12.66% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert E. Rasmus purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average cost of $3.79 per share, with a total value of $189,500.00. Following the completion of the acquisition, the chief executive officer owned 70,718 shares in the company, valued at $268,021.22. The trade was a 241.34% increase in their position. The SEC filing for this purchase provides additional information. 23.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ARQ

Institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. boosted its stake in shares of ARQ by 36.0% in the first quarter. American Century Companies Inc. now owns 52,642 shares of the company’s stock valued at $220,000 after buying an additional 13,925 shares during the period. Marex Group plc acquired a new position in ARQ in the 2nd quarter valued at $1,737,000. Nuveen LLC acquired a new position in ARQ in the 1st quarter valued at $836,000. Wellington Management Group LLP grew its holdings in shares of ARQ by 568.9% during the 1st quarter. Wellington Management Group LLP now owns 700,600 shares of the company’s stock worth $2,922,000 after purchasing an additional 595,855 shares in the last quarter. Finally, Maven Securities LTD grew its holdings in shares of ARQ by 436.1% during the 1st quarter. Maven Securities LTD now owns 80,421 shares of the company’s stock worth $335,000 after purchasing an additional 65,421 shares in the last quarter. 18.49% of the stock is currently owned by institutional investors and hedge funds.

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. The Advanced Purification Technologies segment refers to the sale of Activated Carbon Injection and Dry Sorbent Injection equipment systems, chemical sales, consulting services, and other sales related to the reduction of emissions in the coal-fired electric generation process and the electric utility industry.