Canaccord Genuity Group Issues Pessimistic Forecast for ARQ (NASDAQ:ARQ) Stock Price

ARQ (NASDAQ:ARQ) had its target price dropped by investment analysts at Canaccord Genuity Group from $9.00 to $8.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 105.13% from the company’s current price.

ARQ Stock Up 9.6 %

ARQ stock opened at $3.90 on Thursday. The company has a fifty day simple moving average of $4.12 and a 200 day simple moving average of $5.73. 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 1-year low of $3.34 and a 1-year high of $8.11. The company has a market cap of $164.63 million, a P/E ratio of -390.00 and a beta of 1.51.

ARQ (NASDAQ:ARQ) last announced 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 business had revenue of $27.04 million during the quarter, compared to the consensus estimate of $28.34 million. ARQ had a negative return on equity of 0.25% and a negative net margin of 0.44%. During the same quarter last year, the firm posted $0.14 EPS. Research analysts anticipate that ARQ will post -0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ARQ news, CTO Joseph M. Wong sold 6,596 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $4.68, for a total value of $30,869.28. Following the completion of the sale, the chief technology officer now directly owns 354,790 shares in the company, valued at approximately $1,660,417.20. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 20,588 shares of company stock worth $96,352. 26.87% of the stock is currently owned by insiders.

Institutional Trading of ARQ

Several institutional investors have recently made changes to their positions in ARQ. Invesco Ltd. increased its position in shares of ARQ by 3,981.1% during the fourth quarter. Invesco Ltd. now owns 708,324 shares of the company’s stock valued at $5,362,000 after acquiring an additional 690,968 shares during the last quarter. Geode Capital Management LLC increased its position in shares of ARQ by 11.4% during the 4th quarter. Geode Capital Management LLC now owns 664,430 shares of the company’s stock valued at $5,031,000 after purchasing an additional 67,962 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ARQ by 65.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 449,312 shares of the company’s stock worth $3,401,000 after purchasing an additional 177,550 shares during the period. York Capital Management Global Advisors LLC boosted its holdings in shares of ARQ by 6.6% in the 4th quarter. York Capital Management Global Advisors LLC now owns 442,959 shares of the company’s stock worth $3,353,000 after buying an additional 27,324 shares during the last quarter. Finally, 1492 Capital Management LLC grew its position in ARQ by 152.7% during the fourth quarter. 1492 Capital Management LLC now owns 388,633 shares of the company’s stock valued at $2,942,000 after buying an additional 234,832 shares during the period. Institutional investors own 18.49% of the company’s stock.

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.