Canaccord Genuity Group Cuts ARQ (NASDAQ:ARQ) Price Target to $8.00

ARQ (NASDAQ:ARQ) had its target price cut by Canaccord Genuity Group from $9.00 to $8.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

ARQ Price Performance

Shares of NASDAQ:ARQ opened at $3.90 on Thursday. 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 52 week low of $3.34 and a 52 week high of $8.11. The firm has a market cap of $164.63 million, a PE ratio of -390.00 and a beta of 1.51. The firm’s fifty day moving average is $4.12 and its 200-day moving average is $5.73.

ARQ (NASDAQ:ARQ) last announced its earnings results on Wednesday, March 5th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). ARQ had a negative return on equity of 0.25% and a negative net margin of 0.44%. The firm had revenue of $27.04 million for the quarter, compared to the consensus estimate of $28.34 million. During the same period in the previous year, the business earned $0.14 EPS. Sell-side analysts predict that ARQ will post -0.13 earnings per share for the current year.

Insider Activity

In related news, CTO Joseph M. Wong sold 6,596 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $4.68, for a total transaction of $30,869.28. Following the sale, the chief technology officer now owns 354,790 shares in the company, valued at $1,660,417.20. This represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 20,588 shares of company stock valued at $96,352. 26.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ARQ

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC lifted its position in shares of ARQ by 130.6% during the 3rd quarter. Jane Street Group LLC now owns 30,436 shares of the company’s stock valued at $179,000 after acquiring an additional 17,240 shares during the period. Barclays PLC raised its holdings in shares of ARQ by 286.9% during the third quarter. Barclays PLC now owns 33,350 shares of the company’s stock valued at $196,000 after purchasing an additional 24,731 shares during the period. Avanza Fonder AB bought a new position in shares of ARQ during the 4th quarter worth about $68,000. SG Americas Securities LLC acquired a new stake in shares of ARQ in the 4th quarter valued at about $95,000. Finally, Charles Schwab Investment Management Inc. increased its position in ARQ by 12.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,646 shares of the company’s stock valued at $603,000 after buying an additional 8,909 shares in the last quarter. 18.49% of the stock is currently owned by institutional investors.

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.