ARQ (NASDAQ:ARQ) Now Covered by Analysts at Canaccord Genuity Group

Equities researchers at Canaccord Genuity Group assumed coverage on shares of ARQ (NASDAQ:ARQ) in a research report issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $10.00 price target on the stock. Canaccord Genuity Group’s target price points to a potential upside of 31.06% from the stock’s previous close.

Separately, Canaccord Genuity Group started coverage on shares of ARQ in a research note on Tuesday. They set a “buy” rating and a $10.00 price target on the stock.

ARQ Stock Up 10.7 %

Shares of NASDAQ ARQ opened at $7.63 on Tuesday. The company has a 50 day simple moving average of $5.89 and a 200-day simple moving average of $6.25. The company has a market capitalization of $320.69 million, a P/E ratio of -763.00 and a beta of 1.40. 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 has a 1 year low of $2.31 and a 1 year high of $8.26.

ARQ (NASDAQ:ARQ) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share 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 company had revenue of $34.77 million for the quarter, compared to analysts’ expectations of $30.60 million. During the same period in the previous year, the business posted ($0.07) EPS. On average, equities research analysts predict that ARQ will post -0.13 earnings per share for the current year.

Insider Activity

In other ARQ news, CEO Robert E. Rasmus acquired 25,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was bought 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 directly owns 450,792 shares of the company’s stock, valued at approximately $2,366,658. The trade was a 5.87 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 26.87% of the company’s stock.

Institutional Investors Weigh In On ARQ

Large investors have recently made changes to their positions in the business. AIGH Capital Management LLC purchased a new position in shares of ARQ in the second quarter valued at $13,002,000. Geode Capital Management LLC boosted its position in shares of ARQ by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 596,468 shares of the company’s stock valued at $3,502,000 after purchasing an additional 4,545 shares in the last quarter. State Street Corp boosted 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 buying an additional 64,595 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of ARQ during the second quarter worth approximately $1,524,000. Finally, Maven Securities LTD acquired a new stake in shares of ARQ during the second quarter worth approximately $607,000. Institutional investors and hedge funds own 18.49% of the company’s stock.

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.