Claiborne Benson Smith Sells 2,591 Shares of Arq, Inc. (NASDAQ:ARQ) Stock

Key Points

• Claiborne Benson Smith, an insider at Arq, Inc., sold 2,591 shares of the company's stock for a total of $13,473.20, marking a 3.05% decrease in their ownership.
• Arq, Inc.'s stock price has recently seen a significant uptick, trading up 23.7% to $6.69 amid heightened interest in quantum computing.
• Several institutional investors have increased their positions in Arq, with Nuveen Asset Management boosting its shares by 838.8%, now holding 313,616 shares valued at $2.37 million.

Arq, Inc. (NASDAQ:ARQ - Get Free Report) insider Claiborne Benson Smith sold 2,591 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $5.20, for a total value of $13,473.20. Following the transaction, the insider directly owned 82,438 shares in the company, valued at $428,677.60. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

ARQ Stock Up 23.7%

NASDAQ ARQ traded up $1.28 during mid-day trading on Wednesday, reaching $6.69. 877,696 shares of the company's stock traded hands, compared to its average volume of 175,464. The company has a market cap of $282.38 million, a price-to-earnings ratio of -133.80 and a beta of 1.78. Arq, Inc. has a 1-year low of $3.34 and a 1-year high of $8.11. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $5.43 and a 200-day simple moving average of $5.00.

Hedge Funds Weigh In On ARQ

Large investors have recently made changes to their positions in the business. Cerity Partners LLC bought a new stake in ARQ during the 4th quarter worth approximately $215,000. Millennium Management LLC grew its position in shares of ARQ by 167.3% in the 4th quarter. Millennium Management LLC now owns 153,470 shares of the company's stock valued at $1,162,000 after purchasing an additional 96,057 shares during the period. Nuveen Asset Management LLC grew its position in shares of ARQ by 838.8% in the 4th quarter. Nuveen Asset Management LLC now owns 313,616 shares of the company's stock valued at $2,374,000 after purchasing an additional 280,210 shares during the period. Wellington Management Group LLP acquired a new position in shares of ARQ in the 4th quarter valued at approximately $793,000. Finally, Dimensional Fund Advisors LP grew its position in shares of ARQ by 65.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 449,312 shares of the company's stock valued at $3,401,000 after purchasing an additional 177,550 shares during the period. Institutional investors and hedge funds own 18.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ARQ shares. Fearnley Fonds upgraded ARQ to a "strong-buy" rating in a report on Friday, June 27th. Craig Hallum initiated coverage on ARQ in a research note on Tuesday, July 15th. They set a "buy" rating and a $10.00 price target on the stock. Finally, Canaccord Genuity Group dropped their price target on ARQ from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th.

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.

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