BlackRock Inc. Makes New Investment in Arq, Inc. $ARQ

Key Points

• BlackRock acquired 508,965 shares of Arq, valued at approximately $1.3 million, giving it a 1.19% stake. Institutional investors collectively own 18.49% of the company.
• Analyst sentiment remains mixed, with one Buy, one Hold and one Sell rating; the consensus rating is Hold with a $5.00 price target, while Weiss Ratings reiterated a “sell” rating.
• ARQ shares opened at $2.30, within a 52-week range of $1.54 to $7.70. In its latest quarter, the company reported revenue of $29.88 million but missed earnings estimates, posting a loss of $0.02 per share.

BlackRock Inc. acquired a new stake in shares of Arq, Inc. (NASDAQ:ARQ - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 508,965 shares of the company's stock, valued at approximately $1,298,000. BlackRock Inc. owned approximately 1.19% of ARQ as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in ARQ by 9.7% during the 2nd quarter. Geode Capital Management LLC now owns 766,025 shares of the company's stock valued at $4,114,000 after purchasing an additional 67,430 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of ARQ by 65.7% during the second quarter. Rhumbline Advisers now owns 44,607 shares of the company's stock valued at $240,000 after buying an additional 17,688 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of ARQ by 16.6% in the 2nd quarter. American Century Companies Inc. now owns 61,364 shares of the company's stock worth $330,000 after acquiring an additional 8,722 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in ARQ by 13.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,739 shares of the company's stock valued at $63,000 after acquiring an additional 1,413 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in ARQ during the 2nd quarter valued at about $93,000. 18.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of ARQ in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $5.00.

ARQ Stock Performance

Shares of ARQ opened at $2.30 on Monday. The business has a 50-day moving average of $2.18 and a 200 day moving average of $2.44. Arq, Inc. has a fifty-two week low of $1.54 and a fifty-two week high of $7.70. The firm has a market cap of $100.44 million, a P/E ratio of -1.83 and a beta of 2.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.61 and a current ratio of 1.03.

ARQ (NASDAQ:ARQ - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $29.88 million for the quarter, compared to analysts' expectations of $28.57 million. ARQ had a negative net margin of 42.33% and a negative return on equity of 2.54%.

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.

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