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

Arq, Inc. (NASDAQ:ARQGet Free Report) was the recipient of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 725,100 shares, a decline of 12.3% from the November 30th total of 826,400 shares. Based on an average daily volume of 244,900 shares, the days-to-cover ratio is presently 3.0 days. Currently, 2.1% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

ARQ has been the topic of a number of research reports. Canaccord Genuity Group began coverage on ARQ in a report on Tuesday, November 19th. They issued a “buy” rating and a $10.00 price objective on the stock. Canaccord Genuity Group started coverage on shares of ARQ in a research note on Tuesday, November 19th. They issued a “buy” rating and a $10.00 price target for the company.

Read Our Latest Report on ARQ

ARQ Stock Performance

Shares of ARQ stock traded up $0.28 on Tuesday, reaching $7.51. 96,295 shares of the company were exchanged, compared to its average volume of 243,654. The firm has a market cap of $315.66 million, a price-to-earnings ratio of -751.00 and a beta of 1.51. The company’s 50-day moving average is $6.90 and its two-hundred day moving average is $6.30. 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 $2.50 and a 1-year high of $8.26.

ARQ (NASDAQ:ARQGet Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the firm posted ($0.07) EPS. As a group, research analysts expect that ARQ will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of ARQ

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

About ARQ

(Get Free Report)

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.

Further Reading

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