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

Canaccord Genuity Group began coverage on shares of ARQ (NASDAQ:ARQ - Free Report) in a research report report published on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $10.00 price objective on the stock.

Separately, Canaccord Genuity Group started coverage on ARQ in a research report on Tuesday. They issued a "buy" rating and a $10.00 price target for the company.

ARQ Stock Performance

Shares of NASDAQ:ARQ traded up $0.28 during midday trading on Tuesday, reaching $7.91. 286,501 shares of the company's stock traded hands, compared to its average volume of 245,654. ARQ has a one year low of $2.31 and a one year high of $8.26. The stock has a 50 day moving average of $5.93 and a 200 day moving average of $6.25. The company has a market cap of $332.46 million, a price-to-earnings ratio of -784.00 and a beta of 1.40. 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 - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). The company had revenue of $34.77 million for the quarter, compared to analysts' expectations 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 prior year, the firm posted ($0.07) earnings per share. As a group, equities research analysts anticipate that ARQ will post -0.13 EPS for the current fiscal year.

Insider Activity

In other news, CEO Robert E. Rasmus acquired 25,000 shares of the company's stock in a transaction on Monday, September 23rd. The stock was bought at an average cost of $5.25 per share, with a total value of $131,250.00. Following the completion of the purchase, the chief executive officer now directly owns 450,792 shares of the company's stock, valued at $2,366,658. This represents a 5.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 26.87% of the company's stock.

Institutional Trading of ARQ

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AIGH Capital Management LLC purchased a new stake in ARQ in the 2nd quarter valued at about $13,002,000. Maven Securities LTD bought a new stake in shares of ARQ in the second quarter valued at about $607,000. Dimensional Fund Advisors LP purchased a new stake in ARQ in the second quarter worth about $1,524,000. XTX Topco Ltd bought a new position in ARQ during the 2nd quarter worth about $64,000. Finally, Aristides Capital LLC bought a new position in ARQ during the 2nd quarter worth about $270,000. 18.49% of the stock is owned by hedge funds and other institutional investors.

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.