Short Interest in Arq, Inc. (NASDAQ:ARQ) Drops By 6.5%

Arq, Inc. (NASDAQ:ARQ) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 1,150,000 shares, a drop of 6.5% from the August 31st total of 1,230,000 shares. Based on an average daily volume of 289,800 shares, the days-to-cover ratio is currently 4.0 days. Approximately 4.1% of the shares of the company are short sold.

Insiders Place Their Bets

In related news, CEO Robert E. Rasmus bought 25,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of $5.25 per share, for a total transaction of $131,250.00. Following the purchase, the chief executive officer now directly owns 450,792 shares in the company, valued at $2,366,658. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 22.16% of the company’s stock.

Hedge Funds Weigh In On ARQ

Several hedge funds and other institutional investors have recently modified their holdings of the company. AIGH Capital Management LLC bought a new stake in ARQ during the 2nd quarter valued at approximately $13,002,000. Perritt Capital Management Inc bought a new stake in shares of ARQ during the second quarter valued at approximately $367,000. Aristides Capital LLC purchased a new stake in ARQ in the second quarter worth $270,000. DCF Advisers LLC bought a new position in ARQ in the second quarter worth $134,000. Finally, The Manufacturers Life Insurance Company purchased a new position in ARQ during the second quarter valued at $63,000. 18.49% of the stock is owned by institutional investors.

ARQ Trading Down 3.6 %

Shares of ARQ stock opened at $5.66 on Wednesday. The firm has a market cap of $203.99 million, a P/E ratio of -20.96 and a beta of 1.41. The company has a quick ratio of 1.83, a current ratio of 2.68 and a debt-to-equity ratio of 0.09. ARQ has a 12-month low of $1.60 and a 12-month high of $8.26. The business has a 50-day moving average price of $6.11 and a two-hundred day moving average price of $6.47.

ARQ (NASDAQ:ARQ) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $25.41 million for the quarter, compared to the consensus estimate of $20.60 million. ARQ had a negative net margin of 4.07% and a negative return on equity of 2.38%. During the same period last year, the business posted ($0.21) earnings per share. Equities analysts anticipate that ARQ will post -0.12 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.