Arq, Inc. (NASDAQ:ARQ) CEO Acquires $11,684.00 in Stock

Arq, Inc. (NASDAQ:ARQ) CEO Robert E. Rasmus purchased 2,921 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were purchased at an average price of $4.00 per share, for a total transaction of $11,684.00. Following the completion of the purchase, the chief executive officer now owns 8,183 shares of the company’s stock, valued at approximately $32,732. This trade represents a 55.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

ARQ Trading Up 15.6%

Shares of ARQ stock opened at $4.68 on Friday. Arq, Inc. has a 52-week low of $3.34 and a 52-week high of $8.11. The company has a quick ratio of 2.28, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The company’s 50-day simple moving average is $4.04 and its 200-day simple moving average is $5.66. The firm has a market cap of $197.55 million, a price-to-earnings ratio of -468.00 and a beta of 1.51.

ARQ (NASDAQ:ARQ) last issued its earnings results on Wednesday, March 5th. The company reported ($0.03) earnings per share 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 company had revenue of $27.04 million for the quarter, compared to analyst estimates of $28.34 million. During the same period in the prior year, the business posted $0.14 earnings per share. As a group, equities research analysts anticipate that Arq, Inc. will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gabelli Funds LLC grew its position in ARQ by 27.8% during the first quarter. Gabelli Funds LLC now owns 41,400 shares of the company’s stock worth $173,000 after buying an additional 9,000 shares during the period. Walleye Capital LLC acquired a new position in ARQ during the first quarter worth about $44,000. Maven Securities LTD grew its position in ARQ by 436.1% during the first quarter. Maven Securities LTD now owns 80,421 shares of the company’s stock worth $335,000 after buying an additional 65,421 shares during the period. Wellington Management Group LLP grew its position in ARQ by 568.9% during the first quarter. Wellington Management Group LLP now owns 700,600 shares of the company’s stock worth $2,922,000 after buying an additional 595,855 shares during the period. Finally, American Century Companies Inc. grew its position in ARQ by 36.0% during the first quarter. American Century Companies Inc. now owns 52,642 shares of the company’s stock worth $220,000 after buying an additional 13,925 shares during the period. 18.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group dropped their price target on shares of ARQ from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th.

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.