Manatuck Hill Partners LLC Sells 20,000 Shares of Arq, Inc. (NASDAQ:ARQ)

Manatuck Hill Partners LLC lowered its holdings in shares of Arq, Inc. (NASDAQ:ARQ) by 20.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 80,000 shares of the company’s stock after selling 20,000 shares during the period. Manatuck Hill Partners LLC owned about 0.19% of ARQ worth $606,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Avanza Fonder AB purchased a new stake in ARQ during the fourth quarter valued at about $68,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of ARQ during the fourth quarter worth about $79,000. Intech Investment Management LLC purchased a new stake in shares of ARQ during the fourth quarter worth about $89,000. SG Americas Securities LLC purchased a new stake in shares of ARQ during the fourth quarter worth about $95,000. Finally, Brandywine Global Investment Management LLC purchased a new stake in shares of ARQ during the fourth quarter worth about $121,000. 18.49% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ARQ news, 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 completion of the sale, the chief technology officer now directly owns 354,790 shares in the company, valued at $1,660,417.20. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 20,588 shares of company stock worth $96,352 over the last three months. Company insiders own 26.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group dropped their target price on shares of ARQ from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, February 11th.

ARQ Stock Performance

ARQ stock opened at $3.81 on Friday. The company has a current ratio of 2.89, a quick ratio of 2.28 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $4.26 and a 200-day moving average of $5.80. The firm has a market cap of $160.84 million, a P/E ratio of -381.00 and a beta of 1.46. Arq, Inc. has a 1-year low of $3.34 and a 1-year high of $8.17.

ARQ (NASDAQ:ARQ) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). ARQ had a negative net margin of 0.44% and a negative return on equity of 0.25%. The business had revenue of $27.04 million during the quarter, compared to analyst estimates of $28.34 million. During the same period last year, the business posted $0.14 earnings per share. Sell-side analysts expect that Arq, Inc. will post -0.13 EPS for the current 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.