Canaccord Genuity Group Lowers ARQ (NASDAQ:ARQ) Price Target to $8.00

ARQ (NASDAQ:ARQ) had its price target lowered by research analysts at Canaccord Genuity Group from $11.00 to $8.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 107.79% from the company’s previous close.

ARQ has been the subject of a number of other research reports. Wall Street Zen raised ARQ from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of ARQ in a research report on Wednesday, October 8th. Finally, Craig Hallum began coverage on shares of ARQ in a research report on Tuesday, July 15th. They set a “buy” rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.33.

ARQ Trading Down 6.1%

NASDAQ ARQ traded down $0.25 during trading hours on Friday, hitting $3.85. The company’s stock had a trading volume of 1,048,390 shares, compared to its average volume of 265,263. The stock has a fifty day moving average of $6.98 and a 200 day moving average of $5.91. ARQ has a twelve month low of $3.34 and a twelve month high of $8.11. The firm has a market capitalization of $164.36 million, a P/E ratio of -96.25 and a beta of 1.96. The company has a quick ratio of 0.65, a current ratio of 1.10 and a debt-to-equity ratio of 0.04.

ARQ (NASDAQ:ARQ) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). The company had revenue of $35.07 million for the quarter, compared to the consensus estimate of $35.63 million. ARQ had a negative return on equity of 0.07% and a negative net margin of 1.40%. Equities research analysts forecast that ARQ will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARQ. American Century Companies Inc. increased 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 last quarter. Nuveen LLC acquired a new stake in shares of ARQ during the 1st quarter worth approximately $836,000. Wellington Management Group LLP increased its stake in ARQ by 568.9% in the first quarter. Wellington Management Group LLP now owns 700,600 shares of the company’s stock valued at $2,922,000 after purchasing an additional 595,855 shares in the last quarter. Maven Securities LTD raised its holdings in shares of 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 acquiring an additional 65,421 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in ARQ by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 139,325 shares of the company’s stock worth $581,000 after acquiring an additional 7,897 shares in the last quarter. 18.49% of the stock is currently owned by institutional investors and hedge funds.

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.