Insider Selling: Arq, Inc. (NASDAQ:ARQ) CTO Sells 3,052 Shares of Stock

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 the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $5.20, for a total value of $15,870.40. Following the sale, the chief technology officer owned 367,738 shares in the company, valued at approximately $1,912,237.60. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

ARQ Trading Up 23.7%

ARQ stock traded up $1.28 during trading on Wednesday, hitting $6.69. The company had a trading volume of 877,696 shares, compared to its average volume of 175,464. The stock has a market cap of $282.38 million, a PE ratio of -133.80 and a beta of 1.78. Arq, Inc. has a one year low of $3.34 and a one year high of $8.11. The business has a 50-day moving average of $5.43 and a 200-day moving average of $5.00. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On ARQ

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC acquired a new position in shares of ARQ during the second quarter worth approximately $25,000. Walleye Capital LLC acquired a new position in shares of ARQ during the first quarter worth approximately $44,000. Avanza Fonder AB raised its position in shares of ARQ by 84.6% during the first quarter. Avanza Fonder AB now owns 16,615 shares of the company's stock worth $70,000 after purchasing an additional 7,615 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in shares of ARQ during the fourth quarter worth approximately $79,000. Finally, Maven Securities LTD acquired a new position in shares of ARQ during the fourth quarter worth approximately $114,000. 18.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARQ. Craig Hallum began coverage on ARQ in a report on Tuesday, July 15th. They set a "buy" rating and a $10.00 price target on the stock. Fearnley Fonds upgraded ARQ to a "strong-buy" rating in a report on Friday, June 27th. Finally, Canaccord Genuity Group reduced their target price on ARQ from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, May 8th.

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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