Arq, Inc. (NASDAQ:ARQ) Sees Significant Decrease in Short Interest

Arq, Inc. (NASDAQ:ARQ) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totaling 563,360 shares, a decrease of 60.5% from the June 15th total of 1,426,113 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average daily trading volume, of 714,502 shares, the short-interest ratio is presently 0.8 days.

Hedge Funds Weigh In On ARQ

A number of large investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC purchased a new position in shares of ARQ during the 4th quarter worth approximately $37,000. HRT Financial LP bought a new stake in shares of ARQ during the 4th quarter valued at $37,000. Algert Global LLC purchased a new position in ARQ during the 3rd quarter valued at about $84,000. The Manufacturers Life Insurance Company boosted its position in shares of ARQ by 13.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,739 shares of the company’s stock worth $63,000 after purchasing an additional 1,413 shares in the last quarter. Finally, Centiva Capital LP purchased a new stake in shares of ARQ in the 3rd quarter worth approximately $98,000. Hedge funds and other institutional investors own 18.49% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ARQ shares. Wall Street Zen raised shares of ARQ from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of ARQ in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.00.

ARQ Stock Performance

ARQ stock opened at $2.27 on Wednesday. The firm’s 50 day simple moving average is $2.54 and its 200 day simple moving average is $2.83. The company has a current ratio of 1.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.05. ARQ has a 1-year low of $1.54 and a 1-year high of $7.89. The firm has a market capitalization of $97.45 million, a PE ratio of -1.73 and a beta of 2.00.

ARQ (NASDAQ:ARQ) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). ARQ had a negative net margin of 43.93% and a negative return on equity of 2.67%. The company had revenue of $29.05 million for the quarter, compared to analysts’ expectations of $27.75 million. As a group, analysts expect that ARQ will post 0.05 earnings per share for the current fiscal year.

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.