Arq, Inc. $ARQ Shares Sold by AIGH Capital Management LLC

Key Points

• AIGH Capital Management LLC reduced its stake in Arq, Inc. by 4.2%, holding approximately 2.65 million shares which accounts for 6.4% of its investment portfolio.
• Wellington Management Group LLP significantly increased its stake in Arq by 568.9%, owning 700,600 shares after purchasing 595,855 additional shares.
• Arq, Inc. reported a quarterly revenue of $28.58 million, exceeding analysts' expectations of $25.56 million, while earnings per share matched the consensus estimate of ($0.01).

AIGH Capital Management LLC reduced its position in Arq, Inc. (NASDAQ:ARQ - Free Report) by 4.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,654,486 shares of the company's stock after selling 115,792 shares during the period. ARQ accounts for approximately 6.4% of AIGH Capital Management LLC's investment portfolio, making the stock its 4th largest holding. AIGH Capital Management LLC owned approximately 6.29% of ARQ worth $14,255,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of ARQ by 568.9% during the first quarter. Wellington Management Group LLP now owns 700,600 shares of the company's stock worth $2,922,000 after purchasing an additional 595,855 shares during the period. Nuveen LLC acquired a new stake in shares of ARQ during the first quarter worth $836,000. Bank of New York Mellon Corp grew its stake in shares of ARQ by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 139,325 shares of the company's stock worth $581,000 after purchasing an additional 7,897 shares during the period. DCF Advisers LLC acquired a new stake in shares of ARQ during the first quarter worth $473,000. Finally, Maven Securities LTD grew its stake in shares of ARQ by 436.1% during the first quarter. Maven Securities LTD now owns 80,421 shares of the company's stock worth $335,000 after purchasing an additional 65,421 shares during the period. 18.49% of the stock is owned by institutional investors and hedge funds.

ARQ Stock Down 3.0%

NASDAQ:ARQ opened at $6.70 on Monday. 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 1.10, a quick ratio of 0.65 and a debt-to-equity ratio of 0.04. The stock has a market cap of $286.02 million, a price-to-earnings ratio of -167.50 and a beta of 1.92. The stock has a 50-day moving average price of $7.18 and a two-hundred day moving average price of $5.64.

ARQ (NASDAQ:ARQ - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.01) earnings per share for the quarter, hitting 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 return on equity of 0.07% and a negative net margin of 1.40%. As a group, equities analysts expect that Arq, Inc. will post -0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARQ has been the subject of a number of analyst reports. Fearnley Fonds raised ARQ to a "strong-buy" rating in a research note on Friday, June 27th. Wall Street Zen raised ARQ from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ARQ in a research note on Wednesday, October 8th. Craig Hallum started coverage on ARQ in a research note on Tuesday, July 15th. They issued a "buy" rating and a $10.00 target price for the company. Finally, Canaccord Genuity Group boosted their target price on ARQ from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ARQ has a consensus rating of "Moderate Buy" and an average price target of $10.00.

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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