ARQ (NASDAQ:ARQ) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Arq, Inc. (NASDAQ:ARQ) shares passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $2.00 and traded as high as $2.5599. ARQ shares last traded at $2.40, with a volume of 11,296,895 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of ARQ in a research note on Thursday, October 15th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.00.

ARQ Price Performance

The company has a market cap of $110.49 million, a price-to-earnings ratio of -2.14 and a beta of 2.12. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $2.00 and a 200 day moving average price of $2.45.

ARQ (NASDAQ:ARQ) last issued its earnings results on Wednesday, November 4th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $38.21 million for the quarter, compared to analysts’ expectations of $35.23 million. ARQ had a negative return on equity of 2.54% and a negative net margin of 42.33%.

Hedge Funds Weigh In On ARQ

A number of institutional investors have recently bought and sold shares of the stock. AXQ Capital LP purchased a new position in shares of ARQ in the second quarter worth approximately $30,000. Round Rock Advisors LLC raised its holdings in shares of ARQ by 98.7% during the second quarter. Round Rock Advisors LLC now owns 378,979 shares of the company’s stock valued at $966,000 after acquiring an additional 188,271 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of ARQ in the 2nd quarter valued at approximately $108,000. Corient Private Wealth LP purchased a new stake in shares of ARQ in the 2nd quarter valued at approximately $198,000. Finally, Bank of America Corp DE purchased a new stake in shares of ARQ in the 2nd quarter valued at approximately $590,000. Hedge funds and other institutional investors own 18.49% of the company’s stock.

ARQ Company Profile

Arq, Inc (NASDAQ: ARQ) is a technology and materials company focused on converting coal waste and other carbon-rich materials into higher-value carbon products. The company’s processing technology is designed to recover and refine carbon from previously discarded coal fines and similar feedstocks.

Arq’s product portfolio includes activated carbon and other specialty carbon materials used in applications such as water purification, air emissions control, industrial processes and energy-related markets.