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

Canaccord Genuity Group started coverage on shares of ARQ (NASDAQ:ARQ) in a research note issued to investors on Tuesday, 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 shares of ARQ in a research note on Tuesday. They issued a “buy” rating and a $10.00 price target for the company.

ARQ Stock Up 3.8 %

ARQ stock opened at $7.86 on Tuesday. The company has a market cap of $330.36 million, a P/E ratio of -757.00 and a beta of 1.40. ARQ has a 1-year low of $2.40 and a 1-year high of $8.26. The company has a fifty day simple moving average of $6.04 and a 200 day simple moving average of $6.27. 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 (NASDAQ:ARQ) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $34.77 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned ($0.07) EPS. Research analysts anticipate that ARQ 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 bought 25,000 shares of the business’s stock in a transaction dated 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 owns 450,792 shares in the company, valued at $2,366,658. This represents a 5.87 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 26.87% of the company’s stock.

Institutional Trading of ARQ

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake 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 worth $3,502,000 after buying an additional 4,545 shares during the last quarter. Firsthand Capital Management Inc. acquired a new stake in shares of ARQ during the 3rd quarter worth about $40,000. The Manufacturers Life Insurance Company acquired a new stake in shares of ARQ during the 2nd quarter worth about $63,000. Murphy Pohlad Asset Management LLC acquired a new stake in shares of ARQ during the 3rd quarter worth about $62,000. Finally, XTX Topco Ltd acquired a new stake in ARQ in the 2nd quarter worth about $64,000. Institutional investors and hedge funds 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.