Insider Selling: Arq, Inc. (NASDAQ:ARQ) CTO Sells 6,596 Shares of Stock

Arq, Inc. (NASDAQ:ARQ) CTO Joseph M. Wong sold 6,596 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $4.68, for a total value of $30,869.28. Following the sale, the chief technology officer now owns 354,790 shares of the company’s stock, valued at $1,660,417.20. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

ARQ Trading Down 4.2 %

ARQ opened at $4.35 on Thursday. Arq, Inc. has a 12-month low of $4.01 and a 12-month high of $8.26. 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 stock has a market capitalization of $182.76 million, a PE ratio of -435.00 and a beta of 1.47. The firm’s fifty day moving average price is $5.59 and its 200 day moving average price is $6.17.

ARQ (NASDAQ:ARQ) last issued its earnings results on Wednesday, March 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $27.04 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $0.14 EPS. As a group, research analysts expect that Arq, Inc. will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARQ. Firsthand Capital Management Inc. acquired a new stake in shares of ARQ in the third quarter valued at approximately $40,000. State Street Corp grew its holdings in ARQ by 19.6% in the 3rd quarter. State Street Corp now owns 394,751 shares of the company’s stock worth $2,317,000 after buying an additional 64,595 shares in the last quarter. Jane Street Group LLC increased its position in ARQ by 130.6% in the 3rd quarter. Jane Street Group LLC now owns 30,436 shares of the company’s stock valued at $179,000 after acquiring an additional 17,240 shares during the period. Barclays PLC raised its stake in ARQ by 286.9% during the 3rd quarter. Barclays PLC now owns 33,350 shares of the company’s stock valued at $196,000 after acquiring an additional 24,731 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in ARQ by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 596,468 shares of the company’s stock worth $3,502,000 after acquiring an additional 4,545 shares during the period. Institutional investors and hedge funds own 18.49% of the company’s stock.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lowered their price objective on ARQ from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th.

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.