1492 Capital Management LLC Lowers Stock Position in Arq, Inc. $ARQ

1492 Capital Management LLC cut its position in shares of Arq, Inc. (NASDAQ:ARQ) by 93.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,306 shares of the company’s stock after selling 614,704 shares during the period. 1492 Capital Management LLC owned 0.10% of ARQ worth $145,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Royce & Associates LP boosted its holdings in ARQ by 6.2% during the fourth quarter. Royce & Associates LP now owns 1,458,444 shares of the company’s stock worth $4,769,000 after buying an additional 85,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in ARQ by 10.6% during the third quarter. Dimensional Fund Advisors LP now owns 856,652 shares of the company’s stock worth $6,134,000 after buying an additional 81,984 shares in the last quarter. Geode Capital Management LLC boosted its holdings in ARQ by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 778,142 shares of the company’s stock worth $2,545,000 after buying an additional 3,505 shares in the last quarter. Franklin Resources Inc. purchased a new stake in ARQ during the third quarter worth $4,015,000. Finally, CenterBook Partners LP purchased a new stake in ARQ during the third quarter worth $1,653,000. 18.49% of the stock is owned by hedge funds and other institutional investors.

ARQ Stock Down 4.8%

Shares of NASDAQ ARQ opened at $2.60 on Thursday. The company’s 50-day simple moving average is $2.44 and its 200-day simple moving average is $3.04. The company has a quick ratio of 0.58, a current ratio of 1.02 and a debt-to-equity ratio of 0.05. The firm has a market cap of $111.62 million, a price-to-earnings ratio of -2.02 and a beta of 1.99. Arq, Inc. has a 52-week low of $1.54 and a 52-week high of $7.89.

ARQ (NASDAQ:ARQ) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $29.05 million for the quarter, compared to the consensus estimate of $27.75 million. ARQ had a negative net margin of 43.93% and a negative return on equity of 2.67%. Equities analysts predict that Arq, Inc. will post 0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ARQ. Wall Street Zen upgraded shares of ARQ from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ARQ in a research report on Monday, April 20th. Finally, Canaccord Genuity Group dropped their target price 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

About ARQ

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.