Arq, Inc. (NASDAQ:ARQ) Short Interest Down 7.6% in November

Arq, Inc. (NASDAQ:ARQ) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 1,100,000 shares, a decline of 7.6% from the October 31st total of 1,190,000 shares. Based on an average daily volume of 265,600 shares, the short-interest ratio is currently 4.1 days. Currently, 3.2% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Canaccord Genuity Group started coverage on shares of ARQ in a research report on Tuesday, November 19th. They issued a “buy” rating and a $10.00 price objective on the stock. Canaccord Genuity Group initiated coverage on shares of ARQ in a report on Tuesday, November 19th. They issued a “buy” rating and a $10.00 price target on the stock.

ARQ Price Performance

Shares of ARQ stock opened at $7.42 on Tuesday. The firm has a market capitalization of $311.88 million, a PE ratio of -742.00 and a beta of 1.40. The company has a current ratio of 2.89, a quick ratio of 2.28 and a debt-to-equity ratio of 0.08. ARQ has a 12 month low of $2.40 and a 12 month high of $8.26. The business’s 50-day moving average price is $6.29 and its 200-day moving average price is $6.25.

ARQ (NASDAQ:ARQ) last announced its quarterly earnings data 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). The business had revenue of $34.77 million during the quarter, compared to analysts’ expectations of $30.60 million. ARQ had a negative net margin of 0.44% and a negative return on equity of 0.25%. During the same period last year, the company posted ($0.07) EPS. Sell-side analysts forecast that ARQ will post -0.13 EPS for the current fiscal year.

Insider Activity

In other ARQ news, CEO Robert E. Rasmus purchased 25,000 shares of the stock in a transaction on Monday, September 23rd. The shares were purchased at an average price of $5.25 per share, with a total value of $131,250.00. Following the acquisition, the chief executive officer now directly owns 450,792 shares in the company, valued at approximately $2,366,658. The trade was a 5.87 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 26.87% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. AIGH Capital Management LLC purchased a new stake in ARQ during the 2nd quarter valued at about $13,002,000. Dimensional Fund Advisors LP bought a new stake in ARQ in the second quarter valued at approximately $1,524,000. Maven Securities LTD purchased a new stake in shares of ARQ during the second quarter valued at approximately $607,000. State Street Corp grew its holdings in shares of ARQ by 19.6% in the third quarter. State Street Corp now owns 394,751 shares of the company’s stock worth $2,317,000 after purchasing an additional 64,595 shares during the last quarter. Finally, Perritt Capital Management Inc purchased a new position in shares of ARQ in the second quarter worth $367,000. 18.49% of the stock is owned by institutional investors.

ARQ Company Profile

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.