Connor Clark & Lunn Investment Management Ltd. Lowers Stock Position in Arq, Inc. (NASDAQ:ARQ)

Connor Clark & Lunn Investment Management Ltd. reduced its position in Arq, Inc. (NASDAQ:ARQ) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,335 shares of the company’s stock after selling 2,555 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in ARQ were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARQ. Murphy Pohlad Asset Management LLC purchased a new position in shares of ARQ in the 3rd quarter valued at $62,000. The Manufacturers Life Insurance Company purchased a new stake in ARQ during the 2nd quarter worth $63,000. XTX Topco Ltd acquired a new stake in ARQ in the 2nd quarter valued at $64,000. Mraz Amerine & Associates Inc. purchased a new position in ARQ in the third quarter valued at about $66,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of ARQ during the second quarter worth about $71,000. Institutional investors and hedge funds own 18.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group started coverage on ARQ in a research note on Tuesday, November 19th. They issued a “buy” rating and a $10.00 target price for the company. Canaccord Genuity Group assumed coverage on shares of ARQ in a research report on Tuesday, November 19th. They issued a “buy” rating and a $10.00 price objective for the company.

ARQ Stock Performance

NASDAQ:ARQ opened at $7.71 on Friday. The firm has a 50-day moving average of $6.25 and a two-hundred day moving average of $6.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 2.28. The stock has a market cap of $324.05 million, a P/E ratio of -771.00 and a beta of 1.40. Arq, Inc. has a 1-year low of $2.40 and a 1-year high of $8.26.

ARQ (NASDAQ:ARQ) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate 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 business had revenue of $34.77 million during the quarter, compared to analyst estimates of $30.60 million. During the same quarter last year, the firm posted ($0.07) EPS. On average, research analysts expect that Arq, Inc. will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at ARQ

In related news, CEO Robert E. Rasmus purchased 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was acquired at an average price of $5.25 per share, for a total transaction of $131,250.00. Following the completion of the purchase, the chief executive officer now owns 450,792 shares in the company, valued at approximately $2,366,658. This represents a 5.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.87% of the stock is currently owned by corporate insiders.

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.