Arq, Inc. (NASDAQ:ARQ) Sees Large Drop in Short Interest

Arq, Inc. (NASDAQ:ARQ) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 725,100 shares, a decline of 12.3% from the November 30th total of 826,400 shares. Based on an average daily volume of 244,900 shares, the short-interest ratio is presently 3.0 days. Currently, 2.1% of the shares of the company are sold short.

ARQ Price Performance

Shares of ARQ traded down $0.05 during mid-day trading on Friday, reaching $7.13. 197,913 shares of the stock traded hands, compared to its average volume of 244,496. 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 has a 1 year low of $2.50 and a 1 year high of $8.26. The company has a market cap of $299.69 million, a price-to-earnings ratio of -713.00 and a beta of 1.51. The firm has a fifty day moving average price of $6.88 and a 200 day moving average price of $6.29.

ARQ (NASDAQ:ARQ) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business had revenue of $34.77 million for the quarter, compared to analysts’ expectations of $30.60 million. ARQ had a negative return on equity of 0.25% and a negative net margin of 0.44%. During the same period in the previous year, the firm posted ($0.07) EPS. As a group, equities research analysts predict that ARQ will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On ARQ

Institutional investors have recently made changes to their positions in the stock. Firsthand Capital Management Inc. bought a new stake in ARQ in the 3rd quarter worth approximately $40,000. The Manufacturers Life Insurance Company bought a new stake in shares of ARQ in the 2nd quarter worth approximately $63,000. Murphy Pohlad Asset Management LLC purchased a new stake in shares of ARQ in the 3rd quarter valued at $62,000. XTX Topco Ltd bought a new position in shares of ARQ during the 2nd quarter valued at $64,000. Finally, Mraz Amerine & Associates Inc. purchased a new position in ARQ in the 3rd quarter worth $66,000. Institutional investors own 18.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Canaccord Genuity Group assumed coverage on ARQ in a research report on Tuesday, November 19th. They set a “buy” rating and a $10.00 target price on the stock. Canaccord Genuity Group initiated coverage on ARQ in a report on Tuesday, November 19th. They set a “buy” rating and a $10.00 price objective on the stock.

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.