Goldman Sachs Group Inc. Sells 52,682 Shares of Arq, Inc. $ARQ

Key Points

• Goldman Sachs Group Inc. has sold 52,682 shares of Arq, Inc., reducing its holdings by 36.6% to own 91,172 shares, equating to a value of approximately $380,000.
• Other institutional investors like Nuveen Asset Management LLC and Millennium Management LLC significantly increased their stakes in Arq, with Nuveen raising its holdings by 838.8% in the last quarter.
• Arq, Inc. reported quarterly earnings matching analysts' expectations and has received a "buy" rating from analysts, with an average price target set at $10.00.

Goldman Sachs Group Inc. reduced its holdings in Arq, Inc. (NASDAQ:ARQ - Free Report) by 36.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 91,172 shares of the company's stock after selling 52,682 shares during the period. Goldman Sachs Group Inc. owned 0.22% of ARQ worth $380,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. American Century Companies Inc. boosted its holdings in shares of ARQ by 36.0% during the 1st quarter. American Century Companies Inc. now owns 52,642 shares of the company's stock worth $220,000 after buying an additional 13,925 shares during the period. Millennium Management LLC increased its stake in ARQ by 167.3% during the 4th quarter. Millennium Management LLC now owns 153,470 shares of the company's stock worth $1,162,000 after acquiring an additional 96,057 shares during the period. Nuveen Asset Management LLC raised its holdings in 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 acquiring an additional 280,210 shares in the last quarter. Two Sigma Investments LP raised its holdings in ARQ by 26.4% in the 4th quarter. Two Sigma Investments LP now owns 36,303 shares of the company's stock valued at $275,000 after acquiring an additional 7,589 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of ARQ by 35.0% during the 4th quarter. Bank of America Corp DE now owns 30,056 shares of the company's stock valued at $228,000 after acquiring an additional 7,792 shares during the period. 18.49% of the stock is currently owned by institutional investors and hedge funds.

ARQ Trading Down 3.2%

ARQ opened at $7.16 on Friday. 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 company has a market cap of $305.66 million, a P/E ratio of -179.00 and a beta of 1.90. The company has a fifty day moving average price of $6.80 and a two-hundred day moving average price of $5.37.

ARQ (NASDAQ:ARQ - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.01). The company had revenue of $28.58 million for 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 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Craig Hallum assumed coverage on ARQ in a research note on Tuesday, July 15th. They issued a "buy" rating and a $10.00 price target for the company. Wall Street Zen upgraded shares of ARQ from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Canaccord Genuity Group boosted their price target on ARQ from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Fearnley Fonds upgraded ARQ to a "strong-buy" rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $10.00.

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.

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