Craig Hallum Initiates Coverage on ARQ (NASDAQ:ARQ)

Craig Hallum assumed coverage on shares of ARQ (NASDAQ:ARQ - Free Report) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $10.00 price target on the stock.

ARQ has been the topic of several other reports. Canaccord Genuity Group reduced their price objective on ARQ from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Fearnley Fonds upgraded ARQ to a "strong-buy" rating in a research report on Friday, June 27th.

ARQ Price Performance

Shares of NASDAQ:ARQ traded down $0.19 on Tuesday, hitting $5.70. The company had a trading volume of 121,452 shares, compared to its average volume of 244,934. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.04. ARQ has a 52-week low of $3.34 and a 52-week high of $8.11. The business has a 50 day moving average of $5.11 and a 200 day moving average of $5.12. The company has a market cap of $240.60 million, a PE ratio of -114.00 and a beta of 1.70.

Insider Buying and Selling

In other ARQ news, Director Richard Campbell-Breeden bought 75,000 shares of ARQ stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $4.10 per share, for a total transaction of $307,500.00. Following the completion of the transaction, the director owned 226,148 shares of the company's stock, valued at $927,206.80. This represents a 49.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert E. Rasmus purchased 25,000 shares of the company's stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $4.10 per share, with a total value of $102,500.00. Following the completion of the purchase, the chief executive officer directly owned 480,782 shares of the company's stock, valued at $1,971,206.20. The trade was a 5.49% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 165,856 shares of company stock worth $677,555. 23.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On ARQ

A number of large investors have recently modified their holdings of ARQ. Charles Schwab Investment Management Inc. raised its holdings in shares of ARQ by 12.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,646 shares of the company's stock worth $603,000 after purchasing an additional 8,909 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of ARQ by 128.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 149,119 shares of the company's stock worth $1,129,000 after purchasing an additional 83,784 shares during the period. Intech Investment Management LLC purchased a new position in shares of ARQ in the 4th quarter worth about $89,000. American Century Companies Inc. raised its holdings in shares of ARQ by 32.3% in the 4th quarter. American Century Companies Inc. now owns 38,717 shares of the company's stock worth $293,000 after purchasing an additional 9,442 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of ARQ by 956.7% in the 4th quarter. JPMorgan Chase & Co. now owns 114,735 shares of the company's stock worth $869,000 after purchasing an additional 103,877 shares during the period. 18.49% of the stock is currently owned by hedge funds and other institutional investors.

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.