Arq, Inc. (NASDAQ:ARQ) Sees Significant Decrease in Short Interest

Arq, Inc. (NASDAQ:ARQ) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 725,100 shares, a decrease of 12.3% from the November 30th total of 826,400 shares. Based on an average daily trading volume, of 244,900 shares, the days-to-cover ratio is presently 3.0 days. Currently, 2.1% of the company’s shares are short sold.

ARQ Stock Performance

Shares of ARQ stock opened at $7.22 on Tuesday. ARQ has a 1-year low of $2.50 and a 1-year high of $8.26. The company has a current ratio of 2.89, a quick ratio of 2.28 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $6.90 and a two-hundred day moving average price of $6.30. The company has a market cap of $303.47 million, a P/E ratio of -722.00 and a beta of 1.51.

ARQ (NASDAQ:ARQ) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $34.77 million for the quarter, compared to analyst estimates of $30.60 million. ARQ had a negative return on equity of 0.25% and a negative net margin of 0.44%. During the same period last year, the business earned ($0.07) EPS. As a group, analysts anticipate that ARQ will post -0.13 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ARQ. AIGH Capital Management LLC purchased a new stake in shares of ARQ in the second quarter valued at about $13,002,000. Geode Capital Management LLC increased 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 during the last quarter. State Street Corp raised its stake in shares of ARQ by 19.6% during the 3rd 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 period. Dimensional Fund Advisors LP bought a new stake in shares of ARQ during the 2nd quarter worth $1,524,000. Finally, Maven Securities LTD purchased a new position in ARQ in the second quarter valued at about $607,000. Institutional investors 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.