Price T Rowe Associates Inc. MD Takes Position in Arq, Inc. (NASDAQ:ARQ)

Price T Rowe Associates Inc. MD purchased a new stake in shares of Arq, Inc. (NASDAQ:ARQ) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,330 shares of the company’s stock, valued at approximately $79,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ARQ. Avanza Fonder AB purchased a new position in ARQ in the fourth quarter worth about $68,000. Intech Investment Management LLC bought a new position in shares of ARQ during the 4th quarter valued at approximately $89,000. SG Americas Securities LLC bought a new position in shares of ARQ during the 4th quarter valued at approximately $95,000. Brandywine Global Investment Management LLC purchased a new position in ARQ during the 4th quarter valued at $121,000. Finally, MetLife Investment Management LLC boosted its holdings in ARQ by 361.1% during the 4th quarter. MetLife Investment Management LLC now owns 16,120 shares of the company’s stock valued at $122,000 after acquiring an additional 12,624 shares during the period. 18.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Robert E. Rasmus purchased 12,535 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was purchased at an average price of $3.93 per share, with a total value of $49,262.55. Following the completion of the acquisition, the chief executive officer now owns 20,718 shares in the company, valued at $81,421.74. This trade represents a 153.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Joseph M. Wong sold 6,596 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,660,417.20. This represents a 1.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 15,856 shares of company stock worth $62,555 and have sold 20,588 shares worth $96,352. 26.87% of the stock is currently owned by company insiders.

ARQ Stock Up 15.6%

Shares of ARQ stock opened at $4.68 on Monday. The stock’s 50-day simple moving average is $4.04 and its 200-day simple moving average is $5.66. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.28 and a current ratio of 2.89. The firm has a market capitalization of $197.55 million, a PE ratio of -468.00 and a beta of 1.51. Arq, Inc. has a fifty-two week low of $3.34 and a fifty-two week high of $8.11.

ARQ (NASDAQ:ARQ) last issued its earnings results on Wednesday, March 5th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $27.04 million for 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 in the prior year, the business earned $0.14 earnings per share. Equities analysts expect that Arq, Inc. will post -0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lowered their target price on ARQ from $9.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, May 8th.

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.