Arq, Inc. (NASDAQ:ARQ) Sees Large Drop in Short Interest

Arq, Inc. (NASDAQ:ARQ) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 1,100,000 shares, a decline of 7.6% from the October 31st total of 1,190,000 shares. Based on an average trading volume of 265,600 shares, the short-interest ratio is currently 4.1 days. Approximately 3.2% of the shares of the company are sold short.

ARQ Stock Performance

Shares of ARQ stock traded down $0.15 during trading on Wednesday, reaching $7.43. The company had a trading volume of 34,785 shares, compared to its average volume of 245,366. The company has a market capitalization of $312.28 million, a PE ratio of -758.00 and a beta of 1.51. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 2.28. The firm’s 50 day simple moving average is $6.34 and its two-hundred day simple moving average is $6.25. ARQ has a one year low of $2.40 and a one year high of $8.26.

ARQ (NASDAQ:ARQ) last issued 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). ARQ had a negative net margin of 0.44% and a negative return on equity of 0.25%. The business had revenue of $34.77 million during the quarter, compared to analyst estimates of $30.60 million. During the same period in the prior year, the business posted ($0.07) earnings per share. Sell-side analysts forecast that ARQ will post -0.13 earnings per share for the current year.

Insider Buying and Selling at ARQ

In related news, CEO Robert E. Rasmus acquired 25,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was acquired at an average cost of $5.25 per share, for a total transaction of $131,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 450,792 shares of the company’s stock, valued at approximately $2,366,658. The trade was a 5.87 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 26.87% of the stock is owned by company insiders.

Institutional Trading of ARQ

A number of hedge funds have recently modified their holdings of ARQ. AIGH Capital Management LLC acquired a new stake in shares of ARQ during the 2nd quarter valued at about $13,002,000. Dimensional Fund Advisors LP acquired a new stake in ARQ during the second quarter valued at approximately $1,524,000. Maven Securities LTD acquired a new stake in ARQ during the second quarter valued at approximately $607,000. State Street Corp grew its stake 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 during the period. Finally, Perritt Capital Management Inc acquired a new position in shares of ARQ in the 2nd quarter worth approximately $367,000. Institutional investors own 18.49% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group began coverage on ARQ in a research note on Tuesday, November 19th. They set a “buy” rating and a $10.00 price objective for the company. Canaccord Genuity Group started coverage on ARQ in a research note on Tuesday, November 19th. They issued a “buy” rating and a $10.00 price target on the stock.

ARQ Company Profile

Arq, Inc produces activated carbon products in North America. The company's products include granular activated carbon, powdered and granular activated carbon, and colloidal carbon products; Arq Powder Wetcake, a fine and low-ash coal waste-derived particle; and additives for air emissions control.