Insider Selling: Arq, Inc. (NASDAQ:ARQ) CTO Sells $30,869.28 in Stock

Arq, Inc. (NASDAQ:ARQ) CTO Joseph M. Wong sold 6,596 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $4.68, for a total transaction of $30,869.28. Following the completion of the sale, the chief technology officer now owns 354,790 shares of the company’s stock, valued at approximately $1,660,417.20. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

ARQ Trading Down 1.9 %

Shares of ARQ stock traded down $0.09 on Tuesday, hitting $4.54. 262,974 shares of the stock traded hands, compared to its average volume of 268,717. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.28 and a current ratio of 2.89. Arq, Inc. has a twelve month low of $4.01 and a twelve month high of $8.26. The firm’s 50-day moving average price is $5.67 and its two-hundred day moving average price is $6.19. The stock has a market capitalization of $190.74 million, a PE ratio of -454.00 and a beta of 1.47.

ARQ (NASDAQ:ARQ) last posted its earnings results on Wednesday, March 5th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $27.04 million for the quarter, compared to analyst estimates 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 previous year, the business posted $0.14 EPS. As a group, analysts anticipate that Arq, Inc. will post -0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Firsthand Capital Management Inc. purchased a new stake in ARQ in the third quarter valued at $40,000. Avanza Fonder AB acquired a new stake in shares of ARQ during the 4th quarter worth about $68,000. Price T Rowe Associates Inc. MD purchased a new stake in ARQ in the 4th quarter valued at about $79,000. Intech Investment Management LLC purchased a new stake in ARQ in the 4th quarter valued at about $89,000. Finally, SG Americas Securities LLC acquired a new position in ARQ in the fourth quarter valued at about $95,000. 18.49% of the stock is currently owned by hedge funds and other institutional investors.

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.