Short Interest in Arq, Inc. (NASDAQ:ARQ) Drops By 60.5%

Arq, Inc. (NASDAQ:ARQ) saw a significant decline in short interest in June. As of June 30th, there was short interest totaling 563,360 shares, a decline of 60.5% from the June 15th total of 1,426,113 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average daily volume of 714,502 shares, the days-to-cover ratio is currently 0.8 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ARQ shares. Wall Street Zen upgraded ARQ from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of ARQ in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.50.

Institutional Trading of ARQ

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Peapod Lane Capital LLC purchased a new position in ARQ in the fourth quarter valued at about $747,000. DCF Advisers LLC purchased a new stake in ARQ during the 4th quarter worth approximately $852,000. Royce & Associates LP increased its holdings in ARQ by 6.2% during the 4th quarter. Royce & Associates LP now owns 1,458,444 shares of the company’s stock worth $4,769,000 after purchasing an additional 85,000 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of ARQ by 555.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,071 shares of the company’s stock valued at $702,000 after purchasing an additional 83,119 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of ARQ by 52.0% in the 4th quarter. Invesco Ltd. now owns 28,736 shares of the company’s stock valued at $94,000 after purchasing an additional 9,832 shares in the last quarter. 18.49% of the stock is owned by hedge funds and other institutional investors.

ARQ Price Performance

Shares of ARQ stock opened at $2.32 on Monday. The firm has a fifty day simple moving average of $2.54 and a 200-day simple moving average of $2.85. The company has a market capitalization of $99.59 million, a PE ratio of -1.80 and a beta of 2.00. ARQ has a twelve month low of $1.54 and a twelve month high of $7.89. The company has a current ratio of 1.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.05.

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

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.