1492 Capital Management LLC Decreases Stake in Arq, Inc. $ARQ

1492 Capital Management LLC reduced its position in shares of Arq, Inc. (NASDAQ:ARQ) by 93.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,306 shares of the company’s stock after selling 614,704 shares during the period. 1492 Capital Management LLC’s holdings in ARQ were worth $145,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royce & Associates LP increased its position in ARQ by 168.8% during the third quarter. Royce & Associates LP now owns 1,373,444 shares of the company’s stock worth $9,834,000 after purchasing an additional 862,525 shares during the last quarter. Peapod Lane Capital LLC acquired a new stake in ARQ during the fourth quarter worth about $747,000. CenterBook Partners LP acquired a new stake in ARQ during the third quarter worth about $1,653,000. First Eagle Investment Management LLC acquired a new stake in ARQ during the third quarter worth about $1,151,000. Finally, JPMorgan Chase & Co. increased its position in ARQ by 555.9% during the third quarter. JPMorgan Chase & Co. now owns 98,071 shares of the company’s stock worth $702,000 after purchasing an additional 83,119 shares during the last quarter. 18.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARQ has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of ARQ from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 9th. Canaccord Genuity Group cut their price objective on shares of ARQ from $7.50 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ARQ in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ARQ presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

ARQ Price Performance

Shares of ARQ opened at $2.60 on Thursday. Arq, Inc. has a 1-year low of $1.54 and a 1-year high of $7.89. The stock has a market cap of $111.62 million, a PE ratio of -2.02 and a beta of 1.99. The firm has a 50-day simple moving average of $2.44 and a two-hundred day simple moving average of $3.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.02 and a quick ratio of 0.58.

ARQ (NASDAQ:ARQ) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). ARQ had a negative net margin of 43.93% and a negative return on equity of 2.67%. The business had revenue of $29.05 million during the quarter, compared to analysts’ expectations of $27.75 million. As a group, analysts forecast that Arq, Inc. will post 0.05 EPS for the current year.

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.