Insider Selling: Arq, Inc. (NASDAQ:ARQ) CTO Sells 6,596 Shares of Stock

Arq, Inc. (NASDAQ:ARQ - Get Free Report) CTO Joseph M. Wong sold 6,596 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $4.68, for a total value of $30,869.28. Following the transaction, the chief technology officer now owns 354,790 shares of the company's stock, valued at approximately $1,660,417.20. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

ARQ Stock Down 3.5 %

Shares of NASDAQ ARQ traded down $0.15 during mid-day trading on Friday, hitting $4.18. The company had a trading volume of 291,096 shares, compared to its average volume of 265,553. Arq, Inc. has a 1-year low of $4.01 and a 1-year high of $8.26. The company has a market capitalization of $175.62 million, a PE ratio of -418.00 and a beta of 1.47. 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 business's 50-day simple moving average is $5.50 and its 200 day simple moving average is $6.15.

ARQ (NASDAQ:ARQ - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $27.04 million during the quarter, compared to analysts' expectations of $28.34 million. ARQ had a negative return on equity of 0.25% and a negative net margin of 0.44%. During the same quarter last year, the business posted $0.14 EPS. On average, analysts predict that Arq, Inc. will post -0.13 earnings per share for the current year.

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Institutional Investors Weigh In On ARQ

A number of large investors have recently modified their holdings of the company. Firsthand Capital Management Inc. purchased a new stake in shares of ARQ during the 3rd quarter worth $40,000. Avanza Fonder AB purchased a new stake in ARQ during the 4th quarter worth about $68,000. Price T Rowe Associates Inc. MD acquired a new position in shares of ARQ during the 4th quarter worth about $79,000. Intech Investment Management LLC purchased a new position in shares of ARQ in the 4th quarter valued at about $89,000. Finally, SG Americas Securities LLC purchased a new position in shares of ARQ in the 4th quarter valued at about $95,000. 18.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lowered their price objective on shares of ARQ from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th.

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.