ARQ (NASDAQ:ARQ) Releases Earnings Results

ARQ (NASDAQ:ARQ) issued its earnings results on Wednesday. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02), FiscalAI reports. The company had revenue of $29.05 million during the quarter, compared to the consensus estimate of $27.75 million. ARQ had a negative return on equity of 2.56% and a negative net margin of 43.93%.

ARQ Stock Performance

Shares of ARQ traded up $0.14 during trading hours on Friday, reaching $2.73. 102,945 shares of the company’s stock traded hands, compared to its average volume of 678,372. The firm has a market capitalization of $116.85 million, a price-to-earnings ratio of -2.10 and a beta of 1.92. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.04 and a quick ratio of 0.66. ARQ has a twelve month low of $1.54 and a twelve month high of $7.89. The business’s fifty day simple moving average is $2.46 and its two-hundred day simple moving average is $3.47.

Analyst Upgrades and Downgrades

ARQ has been the subject of several recent analyst reports. Zacks Research raised shares of ARQ from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Canaccord Genuity Group cut their price objective on ARQ from $7.50 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ARQ in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.50.

Hedge Funds Weigh In On ARQ

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its stake in shares of ARQ by 13.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,739 shares of the company’s stock worth $63,000 after acquiring an additional 1,413 shares during the period. Geode Capital Management LLC lifted its position in ARQ by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 778,142 shares of the company’s stock worth $2,545,000 after purchasing an additional 3,505 shares during the period. Barclays PLC boosted its stake in ARQ by 12.0% during the 4th quarter. Barclays PLC now owns 49,829 shares of the company’s stock valued at $163,000 after purchasing an additional 5,319 shares in the last quarter. State Street Corp increased its position in shares of ARQ by 1.0% during the 4th quarter. State Street Corp now owns 561,888 shares of the company’s stock valued at $1,837,000 after purchasing an additional 5,413 shares during the period. Finally, Gabelli Funds LLC raised its holdings in shares of ARQ by 17.9% during the third quarter. Gabelli Funds LLC now owns 50,000 shares of the company’s stock valued at $358,000 after acquiring an additional 7,600 shares during the period. Institutional investors own 18.49% of the company’s stock.

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. The Advanced Purification Technologies segment refers to the sale of Activated Carbon Injection and Dry Sorbent Injection equipment systems, chemical sales, consulting services, and other sales related to the reduction of emissions in the coal-fired electric generation process and the electric utility industry.