ARQ (NASDAQ:ARQ) CTO Joseph Wong Buys 10,000 Shares of Stock

Arq, Inc. (NASDAQ:ARQ) CTO Joseph Wong bought 10,000 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were acquired at an average cost of $1.89 per share, for a total transaction of $18,900.00. Following the completion of the acquisition, the chief technology officer directly owned 400,686 shares of the company’s stock, valued at $757,296.54. This trade represents a 2.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ARQ Stock Performance

Shares of NASDAQ ARQ traded down $0.03 during midday trading on Friday, hitting $2.05. The company’s stock had a trading volume of 100,352 shares, compared to its average volume of 780,431. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 1.04. Arq, Inc. has a 1-year low of $1.54 and a 1-year high of $7.89. The firm’s fifty day moving average price is $3.32 and its 200-day moving average price is $4.62. The firm has a market cap of $87.63 million, a P/E ratio of -1.61 and a beta of 1.96.

ARQ (NASDAQ:ARQ) last issued its earnings results on Monday, March 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The business had revenue of $29.43 million during the quarter, compared to the consensus estimate of $28.59 million. ARQ had a negative return on equity of 1.99% and a negative net margin of 43.72%. On average, sell-side analysts forecast that Arq, Inc. will post -0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ARQ. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ARQ in a research report on Wednesday, January 21st. Zacks Research upgraded shares of ARQ from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Finally, Canaccord Genuity Group dropped their price objective on shares of ARQ from $7.50 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ARQ has an average rating of “Moderate Buy” and an average target price of $7.50.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of ARQ by 9.7% during the second quarter. Geode Capital Management LLC now owns 766,025 shares of the company’s stock valued at $4,114,000 after purchasing an additional 67,430 shares during the period. Rhumbline Advisers grew its position in ARQ by 65.7% in the 2nd quarter. Rhumbline Advisers now owns 44,607 shares of the company’s stock valued at $240,000 after buying an additional 17,688 shares in the last quarter. American Century Companies Inc. increased its stake in ARQ by 16.6% during the 2nd quarter. American Century Companies Inc. now owns 61,364 shares of the company’s stock valued at $330,000 after buying an additional 8,722 shares during the period. XTX Topco Ltd raised its position in shares of ARQ by 260.1% during the 2nd quarter. XTX Topco Ltd now owns 41,865 shares of the company’s stock worth $225,000 after buying an additional 30,240 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of ARQ by 13.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,739 shares of the company’s stock worth $63,000 after buying an additional 1,413 shares in the last quarter. Institutional investors and hedge funds own 18.49% of the company’s stock.

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. 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.