ARQ (NASDAQ:ARQ) Now Covered by Analysts at Canaccord Genuity Group

Equities researchers at Canaccord Genuity Group initiated coverage on shares of ARQ (NASDAQ:ARQ) in a research note issued to investors on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 31.06% from the company’s previous close.

Separately, Canaccord Genuity Group started coverage on shares of ARQ in a research note on Tuesday. They issued a “buy” rating and a $10.00 target price on the stock.

ARQ Trading Up 10.7 %

Shares of ARQ stock opened at $7.63 on Tuesday. The company’s fifty day simple moving average is $5.89 and its 200-day simple moving average is $6.25. The company has a market cap of $320.69 million, a price-to-earnings ratio of -763.00 and a beta of 1.40. The company has a current ratio of 2.89, a quick ratio of 2.28 and a debt-to-equity ratio of 0.08. ARQ has a 1 year low of $2.31 and a 1 year high of $8.26.

ARQ (NASDAQ:ARQ) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $34.77 million during the quarter, compared to analyst estimates of $30.60 million. ARQ had a negative return on equity of 0.25% and a negative net margin of 0.44%. During the same quarter in the previous year, the business posted ($0.07) EPS. As a group, sell-side analysts expect that ARQ will post -0.13 EPS for the current year.

Insider Activity

In other ARQ news, CEO Robert E. Rasmus purchased 25,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was bought at an average cost of $5.25 per share, with a total value of $131,250.00. Following the purchase, the chief executive officer now directly owns 450,792 shares of the company’s stock, valued at $2,366,658. The trade was a 5.87 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 26.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ARQ

Several hedge funds have recently made changes to their positions in the business. AIGH Capital Management LLC bought a new position in shares of ARQ in the second quarter valued at $13,002,000. Perritt Capital Management Inc bought a new position in shares of ARQ in the second quarter valued at $367,000. Dimensional Fund Advisors LP bought a new position in shares of ARQ in the second quarter valued at $1,524,000. Renaissance Technologies LLC bought a new position in shares of ARQ in the second quarter valued at $81,000. Finally, XTX Topco Ltd bought a new position in shares of ARQ in the second quarter valued at $64,000. 18.49% of the stock is owned by institutional investors.

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.