Wellington Management Group LLP Acquires 595,855 Shares of Arq, Inc. $ARQ

Key Points

• Wellington Management Group LLP increased its stake in Arq, Inc. by 568.9%, owning 700,600 shares valued at approximately $2.9 million as of the last SEC filing.
• Several institutional investors, including Dimensional Fund Advisors and Nuveen Asset Management, also significantly boosted their holdings in ARQ during the fourth quarter.
• Despite mixed ratings from analysts, the consensus target price for ARQ shares is set at $10.00, with one analyst rating it a Strong Buy.

Wellington Management Group LLP boosted its holdings in shares of Arq, Inc. (NASDAQ:ARQ - Free Report) by 568.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700,600 shares of the company's stock after purchasing an additional 595,855 shares during the period. Wellington Management Group LLP owned 1.66% of ARQ worth $2,922,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Avanza Fonder AB raised its holdings in shares of ARQ by 84.6% in the first quarter. Avanza Fonder AB now owns 16,615 shares of the company's stock valued at $70,000 after buying an additional 7,615 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in ARQ in the 4th quarter valued at about $79,000. Maven Securities LTD bought a new position in shares of ARQ in the fourth quarter worth about $114,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ARQ by 14.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,695 shares of the company's stock worth $119,000 after purchasing an additional 1,998 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of ARQ by 361.1% during the fourth quarter. MetLife Investment Management LLC now owns 16,120 shares of the company's stock valued at $122,000 after purchasing an additional 12,624 shares during the last quarter. Institutional investors and hedge funds own 18.49% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ARQ shares. Wall Street Zen downgraded ARQ from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Fearnley Fonds upgraded ARQ to a "strong-buy" rating in a report on Friday, June 27th. Canaccord Genuity Group lifted their price objective on ARQ from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Craig Hallum began coverage on shares of ARQ in a research report on Tuesday, July 15th. They set a "buy" rating and a $10.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $10.00.

ARQ Trading Up 0.3%

Shares of ARQ stock traded up $0.02 during trading hours on Thursday, hitting $7.20. The company's stock had a trading volume of 284,093 shares, compared to its average volume of 340,438. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.10 and a quick ratio of 0.65. The company has a market capitalization of $307.37 million, a PE ratio of -180.00 and a beta of 1.90. The stock has a 50 day moving average of $6.35 and a 200 day moving average of $5.15. Arq, Inc. has a 12 month low of $3.34 and a 12 month high of $8.11.

ARQ (NASDAQ:ARQ - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $28.58 million during the quarter, compared to analysts' expectations of $25.56 million. ARQ had a negative net margin of 1.40% and a negative return on equity of 0.07%. Analysts predict that Arq, Inc. will post -0.13 earnings per share for the current year.

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.