ARQ (NASDAQ:ARQ) CTO Joseph Wong Purchases 10,000 Shares
by Scott Moore · The Cerbat GemArq, Inc. (NASDAQ:ARQ – Get Free Report) CTO Joseph Wong purchased 10,000 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were acquired at an average price of $1.89 per share, with a total value of $18,900.00. Following the completion of the transaction, the chief technology officer owned 400,686 shares of the company’s stock, valued at approximately $757,296.54. This trade represents a 2.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
ARQ Trading Up 8.9%
Shares of NASDAQ:ARQ traded up $0.17 on Thursday, reaching $2.07. 1,048,397 shares of the company traded hands, compared to its average volume of 792,569. The stock has a market capitalization of $88.70 million, a P/E ratio of -1.63 and a beta of 1.96. The business’s 50-day simple moving average is $3.35 and its 200 day simple moving average is $4.64. The company has a current ratio of 1.04, a quick ratio of 0.66 and a debt-to-equity ratio of 0.05. Arq, Inc. has a 52 week low of $1.54 and a 52 week high of $7.89.
ARQ (NASDAQ:ARQ – Get Free Report) last issued its earnings results on Monday, March 9th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The company had revenue of $29.43 million for the quarter, compared to analysts’ expectations of $28.59 million. ARQ had a negative net margin of 43.72% and a negative return on equity of 1.99%. As a group, equities analysts anticipate that Arq, Inc. will post -0.13 EPS for the current fiscal year.
Hedge Funds Weigh In On ARQ
A number of institutional investors have recently bought and sold shares of the stock. Royce & Associates LP lifted its holdings in ARQ by 168.8% in the third quarter. Royce & Associates LP now owns 1,373,444 shares of the company’s stock worth $9,834,000 after buying an additional 862,525 shares during the period. Franklin Resources Inc. purchased a new position in shares of ARQ during the 3rd quarter worth approximately $4,015,000. Marshall Wace LLP bought a new position in shares of ARQ in the 4th quarter worth approximately $1,453,000. Renaissance Technologies LLC lifted its stake in shares of ARQ by 485.8% in the 4th quarter. Renaissance Technologies LLC now owns 412,299 shares of the company’s stock valued at $1,348,000 after purchasing an additional 341,918 shares during the period. Finally, Marex Group plc purchased a new position in shares of ARQ in the 2nd quarter valued at approximately $1,737,000. 18.49% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the stock. Canaccord Genuity Group decreased their price objective on shares of ARQ from $7.50 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Weiss Ratings restated a “sell (d-)” rating on shares of ARQ in a report on Wednesday, January 21st. Finally, Zacks Research upgraded ARQ from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ARQ has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.
Check Out Our Latest Research Report on ARQ
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.