Arq, Inc. (NASDAQ:ARQ) Short Interest Down 24.9% in November

Arq, Inc. (NASDAQ:ARQ) was the recipient of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 826,400 shares, a decrease of 24.9% from the November 15th total of 1,100,000 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily volume of 272,800 shares, the short-interest ratio is currently 3.0 days.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Canaccord Genuity Group began coverage on shares of ARQ in a research note on Tuesday, November 19th. They set a “buy” rating and a $10.00 price target for the company. Canaccord Genuity Group started coverage on shares of ARQ in a report on Tuesday, November 19th. They issued a “buy” rating and a $10.00 price target for the company.

Insider Buying and Selling

In related news, CEO Robert E. Rasmus acquired 25,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was acquired at an average price of $5.25 per share, with a total value of $131,250.00. Following the completion of the transaction, the chief executive officer now owns 450,792 shares of the company’s stock, valued at approximately $2,366,658. This represents a 5.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 26.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ARQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in ARQ in the third quarter worth about $217,000. Barclays PLC grew its stake in 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 acquiring an additional 24,731 shares in the last quarter. Geode Capital Management LLC grew its stake in ARQ by 0.8% during the third quarter. Geode Capital Management LLC now owns 596,468 shares of the company’s stock valued at $3,502,000 after acquiring an additional 4,545 shares in the last quarter. Jane Street Group LLC grew its stake in ARQ by 130.6% during the third 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 in the last quarter. Finally, State Street Corp lifted its position in ARQ by 19.6% during the third quarter. State Street Corp now owns 394,751 shares of the company’s stock valued at $2,317,000 after purchasing an additional 64,595 shares during the last quarter. 18.49% of the stock is currently owned by institutional investors and hedge funds.

ARQ Stock Up 1.4 %

NASDAQ:ARQ traded up $0.10 on Friday, hitting $7.09. 141,197 shares of the company’s stock were exchanged, compared to its average volume of 243,336. The company has a market cap of $298.01 million, a P/E ratio of -709.00 and a beta of 1.51. The firm has a 50-day moving average price of $6.56 and a 200-day moving average price of $6.27. ARQ has a 52 week low of $2.40 and a 52 week high of $8.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 2.28.

ARQ (NASDAQ:ARQ) last announced its earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). ARQ had a negative return on equity of 0.25% and a negative net margin of 0.44%. The business had revenue of $34.77 million for the quarter, compared to analyst estimates of $30.60 million. During the same quarter in the previous year, the company earned ($0.07) EPS. As a group, analysts expect that ARQ will post -0.13 EPS for the current fiscal year.

About ARQ

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.