Arq, Inc. (NASDAQ:ARQ) Short Interest Up 22.1% in December

Arq, Inc. (NASDAQ:ARQ) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 885,300 shares, an increase of 22.1% from the December 15th total of 725,100 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average daily volume of 256,300 shares, the short-interest ratio is presently 3.5 days.

Hedge Funds Weigh In On ARQ

Several institutional investors and hedge funds have recently modified their holdings of ARQ. Dimensional Fund Advisors LP purchased a new position in shares of ARQ during the 2nd quarter valued at $1,524,000. Renaissance Technologies LLC acquired a new position in ARQ during the 2nd quarter worth $81,000. XTX Topco Ltd acquired a new position in ARQ during the 2nd quarter worth $64,000. DCF Advisers LLC acquired a new position in ARQ during the 2nd quarter worth $134,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of ARQ during the second quarter valued at about $71,000. 18.49% of the stock is currently owned by hedge funds and other institutional investors.

ARQ Price Performance

Shares of NASDAQ ARQ traded up $0.11 during trading on Friday, hitting $6.63. The company had a trading volume of 72,521 shares, compared to its average volume of 285,023. The company has a market cap of $278.45 million, a P/E ratio of -661.60 and a beta of 1.50. ARQ has a 52 week low of $2.64 and a 52 week high of $8.26. The business’s 50-day moving average is $7.12 and its 200 day moving average is $6.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.28 and a current ratio of 2.89.

ARQ (NASDAQ:ARQ) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share 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 firm had revenue of $34.77 million for the quarter, compared to analysts’ expectations of $30.60 million. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. Equities research analysts predict that ARQ will post -0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARQ has been the topic of several recent analyst reports. Canaccord Genuity Group began coverage on ARQ in a report on Tuesday, November 19th. They set a “buy” rating and a $10.00 target price on the stock. Canaccord Genuity Group began coverage on ARQ in a report on Tuesday, November 19th. They issued a “buy” rating and a $10.00 price target on the stock.

About ARQ

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.