Canaccord Genuity Group Begins Coverage on ARQ (NASDAQ:ARQ)

Equities researchers at Canaccord Genuity Group assumed coverage on shares of ARQ (NASDAQ:ARQ) in a research report issued on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $10.00 price target on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 31.06% from the stock’s previous close.

ARQ Trading Up 10.7 %

NASDAQ ARQ opened at $7.63 on Tuesday. ARQ has a one year low of $2.31 and a one year high of $8.26. 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 firm has a market cap of $320.70 million, a P/E ratio of -763.00 and a beta of 1.40. The stock’s 50-day moving average is $5.89 and its 200-day moving average is $6.25.

ARQ (NASDAQ:ARQ) last released its 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). The firm had revenue of $34.77 million during 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 quarter in the previous year, the firm posted ($0.07) EPS. Sell-side analysts anticipate that ARQ will post -0.13 earnings per share for the current fiscal year.

Insider Activity at ARQ

In other news, CEO Robert E. Rasmus bought 25,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were bought at an average cost of $5.25 per share, with a total value of $131,250.00. Following the acquisition, the chief executive officer now owns 450,792 shares in the company, valued at $2,366,658. This trade represents a 5.87 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 26.87% of the stock is owned by company insiders.

Institutional Trading of ARQ

A number of hedge funds have recently made changes to their positions in the business. AIGH Capital Management LLC acquired a new stake in ARQ during the second quarter worth approximately $13,002,000. Perritt Capital Management Inc acquired a new stake in shares of ARQ during the 2nd quarter worth $367,000. Dimensional Fund Advisors LP bought a new position in ARQ in the 2nd quarter valued at about $1,524,000. Renaissance Technologies LLC acquired a new stake in shares of ARQ during the 2nd quarter worth approximately $81,000. Finally, XTX Topco Ltd bought a new position in ARQ in the second quarter valued at approximately $64,000. 18.49% of the stock is owned by institutional investors and hedge funds.

ARQ Company Profile

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.