Arq, Inc. (NASDAQ:ARQ) CTO Joseph M. Wong Sells 3,052 Shares

Key Points

• Arq, Inc. CTO Joseph M. Wong sold 3,052 shares at an average price of $5.20, reducing his ownership to 367,738 shares valued around $1.91 million.
• The stock has seen a significant 23.7% increase recently, trading at $6.69 and boasting a market cap of $282.38 million.
• Institutional ownership in Arq, Inc. is currently at 18.49%, with several hedge funds acquiring new positions in the company.

Arq, Inc. (NASDAQ:ARQ - Get Free Report) CTO Joseph M. Wong sold 3,052 shares of ARQ stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $5.20, for a total transaction of $15,870.40. Following the sale, the chief technology officer owned 367,738 shares of the company's stock, valued at $1,912,237.60. The trade was a 0.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ARQ Stock Performance

Shares of ARQ traded up $0.43 during trading hours on Friday, hitting $6.62. The stock had a trading volume of 259,319 shares, compared to its average volume of 228,144. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.62 and a current ratio of 1.12. The firm has a 50-day moving average price of $5.52 and a 200 day moving average price of $4.99. Arq, Inc. has a fifty-two week low of $3.34 and a fifty-two week high of $8.11. The firm has a market capitalization of $279.43 million, a price-to-earnings ratio of -132.40 and a beta of 1.78.

Hedge Funds Weigh In On ARQ

A number of large investors have recently added to or reduced their stakes in ARQ. Geode Capital Management LLC grew its holdings in shares of ARQ by 9.7% during the second quarter. Geode Capital Management LLC now owns 766,025 shares of the company's stock worth $4,114,000 after buying an additional 67,430 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of ARQ during the second quarter worth $25,000. Avanza Fonder AB grew its holdings in shares of ARQ by 109.4% during the second quarter. Avanza Fonder AB now owns 34,795 shares of the company's stock worth $187,000 after buying an additional 18,180 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of ARQ by 27.8% during the first quarter. Gabelli Funds LLC now owns 41,400 shares of the company's stock worth $173,000 after buying an additional 9,000 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of ARQ during the first quarter worth $44,000. 18.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on ARQ shares. Craig Hallum started 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. Fearnley Fonds raised shares of ARQ to a "strong-buy" rating in a research report on Friday, June 27th. Finally, Canaccord Genuity Group lifted their price objective on shares of ARQ from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday.

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.