Diametric Capital LP Cuts Stake in Arq, Inc. (NASDAQ:ARQ)

Diametric Capital LP decreased its stake in Arq, Inc. (NASDAQ:ARQ) by 82.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,330 shares of the company’s stock after selling 90,938 shares during the period. Diametric Capital LP’s holdings in ARQ were worth $146,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Wellington Management Group LLP acquired a new position in ARQ during the 4th quarter worth approximately $793,000. JPMorgan Chase & Co. lifted its position in shares of ARQ by 956.7% during the fourth quarter. JPMorgan Chase & Co. now owns 114,735 shares of the company’s stock worth $869,000 after purchasing an additional 103,877 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of ARQ by 128.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 149,119 shares of the company’s stock valued at $1,129,000 after purchasing an additional 83,784 shares during the period. State Street Corp grew its holdings in ARQ by 19.6% during the 3rd 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in ARQ during the 4th quarter valued at $301,000. Institutional investors and hedge funds own 18.49% of the company’s stock.

ARQ Stock Performance

Shares of ARQ opened at $4.20 on Thursday. The firm has a market cap of $176.46 million, a price-to-earnings ratio of -420.00 and a beta of 1.47. The company has a quick ratio of 2.28, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $5.35 and its two-hundred day moving average is $6.11. Arq, Inc. has a 52-week low of $4.01 and a 52-week high of $8.26.

ARQ (NASDAQ:ARQ) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $27.04 million for the quarter, compared to analysts’ expectations of $28.34 million. ARQ had a negative net margin of 0.44% and a negative return on equity of 0.25%. During the same period in the prior year, the company posted $0.14 earnings per share. Analysts forecast that Arq, Inc. will post -0.13 EPS for the current fiscal year.

Insider Transactions at ARQ

In related news, CTO Joseph M. Wong sold 6,596 shares of the company’s stock in a transaction that occurred on 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 directly owns 354,790 shares of the company’s stock, valued at approximately $1,660,417.20. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 20,588 shares of company stock valued at $96,352. Insiders own 26.87% of the company’s stock.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group decreased their price objective on shares of ARQ from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th.

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.