ARQ (NASDAQ:ARQ) Earns Buy Rating from Analysts at Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of ARQ (NASDAQ:ARQ) in a research report report published on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $10.00 price objective on the stock.

Separately, Canaccord Genuity Group began coverage on ARQ in a research report on Tuesday. They issued a “buy” rating and a $10.00 price objective for the company.

ARQ Stock Up 0.7 %

Shares of NASDAQ ARQ opened at $7.57 on Tuesday. 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 stock has a market capitalization of $318.17 million, a PE ratio of -757.00 and a beta of 1.40. The stock’s fifty day simple moving average is $6.00 and its two-hundred day simple moving average is $6.26. ARQ has a 12-month low of $2.40 and a 12-month high of $8.26.

ARQ (NASDAQ:ARQ) last announced its earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (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 the consensus estimate of $30.60 million. ARQ had a negative net margin of 0.44% and a negative return on equity of 0.25%. During the same period last year, the business posted ($0.07) EPS. As a group, analysts expect that ARQ will post -0.13 EPS for the current fiscal year.

Insider Transactions at ARQ

In other news, CEO Robert E. Rasmus bought 25,000 shares of ARQ stock in a transaction that occurred on Monday, September 23rd. The stock was bought at an average price of $5.25 per share, for a total transaction of $131,250.00. Following the purchase, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 26.87% of the company’s stock.

Hedge Funds Weigh In On ARQ

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in ARQ by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 596,468 shares of the company’s stock worth $3,502,000 after acquiring an additional 4,545 shares during the last quarter. Firsthand Capital Management Inc. purchased a new position in ARQ in the 3rd quarter worth $40,000. The Manufacturers Life Insurance Company purchased a new position in ARQ in the 2nd quarter worth $63,000. Murphy Pohlad Asset Management LLC purchased a new position in ARQ in the 3rd quarter worth $62,000. Finally, XTX Topco Ltd purchased a new position in ARQ in the 2nd quarter worth $64,000. Hedge funds and other 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.