Canaccord Genuity Group Cuts ARQ (NASDAQ:ARQ) Price Target to $5.00

ARQ (NASDAQ:ARQ) had its price objective cut by Canaccord Genuity Group from $7.50 to $5.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on ARQ. Zacks Research upgraded ARQ from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of ARQ in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

ARQ Price Performance

NASDAQ:ARQ opened at $1.92 on Wednesday. ARQ has a one year low of $1.54 and a one year high of $7.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.71 and a current ratio of 1.04. The stock has a market cap of $81.96 million, a PE ratio of -1.51 and a beta of 1.96. The stock has a 50 day moving average price of $3.45 and a 200 day moving average price of $4.77.

ARQ (NASDAQ:ARQ) last released its quarterly earnings data on Monday, March 9th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The company had revenue of $29.43 million for the quarter, compared to analyst estimates of $28.59 million. ARQ had a negative return on equity of 1.99% and a negative net margin of 43.72%. Equities research analysts expect that ARQ will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On ARQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARQ. Royce & Associates LP raised its position in ARQ by 168.8% in the third quarter. Royce & Associates LP now owns 1,373,444 shares of the company’s stock valued at $9,834,000 after purchasing an additional 862,525 shares during the period. Franklin Resources Inc. purchased a new position in shares of ARQ during the 3rd quarter worth $4,015,000. Marshall Wace LLP acquired a new stake in shares of ARQ during the 4th quarter worth about $1,453,000. Renaissance Technologies LLC increased its position in shares of ARQ by 485.8% during the 4th quarter. Renaissance Technologies LLC now owns 412,299 shares of the company’s stock worth $1,348,000 after purchasing an additional 341,918 shares during the last quarter. Finally, Marex Group plc purchased a new stake in ARQ in the 2nd quarter valued at about $1,737,000. Institutional investors and hedge funds own 18.49% of the company’s stock.

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. The Advanced Purification Technologies segment refers to the sale of Activated Carbon Injection and Dry Sorbent Injection equipment systems, chemical sales, consulting services, and other sales related to the reduction of emissions in the coal-fired electric generation process and the electric utility industry.