Arq, Inc. (NASDAQ:ARQ) Sees Large Decline in Short Interest

Arq, Inc. (NASDAQ:ARQ) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 1,528,529 shares, a drop of 22.0% from the March 31st total of 1,959,684 shares. Based on an average daily volume of 523,391 shares, the days-to-cover ratio is currently 2.9 days. Approximately 4.7% of the shares of the company are short sold.

Analyst Ratings Changes

ARQ has been the subject of several recent research reports. Canaccord Genuity Group decreased their price target on ARQ from $7.50 to $5.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Zacks Research raised ARQ from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ARQ in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ARQ currently has a consensus rating of “Moderate Buy” and an average target price of $7.50.

Institutional Investors Weigh In On ARQ

Hedge funds and other institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new stake in ARQ in the fourth quarter valued at $37,000. HRT Financial LP acquired a new stake in ARQ in the fourth quarter valued at $37,000. AlphaQuest LLC purchased a new position in shares of ARQ in the third quarter valued at $83,000. Algert Global LLC purchased a new position in shares of ARQ in the third quarter valued at $84,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of ARQ by 13.7% in the second quarter. The Manufacturers Life Insurance Company now owns 11,739 shares of the company’s stock valued at $63,000 after buying an additional 1,413 shares in the last quarter. Institutional investors and hedge funds own 18.49% of the company’s stock.

ARQ Price Performance

ARQ stock traded up $0.02 during midday trading on Friday, reaching $2.29. The company’s stock had a trading volume of 245,231 shares, compared to its average volume of 692,747. ARQ has a fifty-two week low of $1.54 and a fifty-two week high of $7.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 1.04. The stock’s 50 day simple moving average is $2.52 and its 200 day simple moving average is $3.61. The firm has a market capitalization of $98.20 million, a PE ratio of -1.80 and a beta of 2.08.

ARQ (NASDAQ:ARQ) last released its earnings results on Monday, March 9th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). ARQ had a negative net margin of 43.72% and a negative return on equity of 1.99%. The business had revenue of $29.43 million during the quarter, compared to analyst estimates of $28.59 million. On average, equities research analysts forecast that ARQ will post 0.04 earnings per share 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.