Arq, Inc. (NASDAQ:ARQ) Short Interest Down 7.6% in November

Arq, Inc. (NASDAQ:ARQ) saw a significant drop in short interest in November. As of November 15th, there was short interest totalling 1,100,000 shares, a drop of 7.6% from the October 31st total of 1,190,000 shares. Based on an average trading volume of 265,600 shares, the short-interest ratio is currently 4.1 days. Approximately 3.2% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group started coverage on ARQ in a report on Tuesday, November 19th. They issued a “buy” rating and a $10.00 price target for the company. Canaccord Genuity Group initiated coverage on shares of ARQ in a research report on Tuesday, November 19th. They set a “buy” rating and a $10.00 price objective for the company.

ARQ Stock Performance

Shares of NASDAQ:ARQ traded down $0.23 during trading hours on Monday, hitting $7.48. The stock had a trading volume of 31,573 shares, compared to its average volume of 245,051. The stock’s fifty day simple moving average is $6.25 and its 200 day simple moving average is $6.25. The firm has a market capitalization of $314.40 million, a price-to-earnings ratio of -771.00 and a beta of 1.40. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.28 and a current ratio of 2.89. ARQ has a 1-year low of $2.40 and a 1-year high of $8.26.

ARQ (NASDAQ:ARQ) last announced its earnings results on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). ARQ had a negative net margin of 0.44% and a negative return on equity of 0.25%. The business had revenue of $34.77 million for the quarter, compared to the consensus estimate of $30.60 million. During the same period in the previous year, the firm earned ($0.07) EPS. Sell-side analysts anticipate that ARQ will post -0.13 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Robert E. Rasmus acquired 25,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were purchased at an average price of $5.25 per share, for a total transaction of $131,250.00. Following the completion of the purchase, the chief executive officer now directly owns 450,792 shares of the company’s stock, valued at $2,366,658. This represents a 5.87 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 26.87% of the company’s stock.

Institutional Investors Weigh In On ARQ

Several institutional investors have recently bought and sold shares of ARQ. Firsthand Capital Management Inc. bought a new stake in shares of ARQ during the 3rd quarter worth about $40,000. The Manufacturers Life Insurance Company acquired a new position in shares of ARQ during the 2nd quarter valued at $63,000. Murphy Pohlad Asset Management LLC bought a new stake in shares of ARQ in the 3rd quarter worth $62,000. XTX Topco Ltd acquired a new stake in shares of ARQ in the second quarter valued at $64,000. Finally, Mraz Amerine & Associates Inc. bought a new position in ARQ during the third quarter valued at about $66,000. Institutional investors and hedge funds own 18.49% of the company’s stock.

ARQ Company Profile

Arq, Inc produces activated carbon products in North America. The company's products include granular activated carbon, powdered and granular activated carbon, and colloidal carbon products; Arq Powder Wetcake, a fine and low-ash coal waste-derived particle; and additives for air emissions control.