Short Interest in Arq, Inc. (NASDAQ:ARQ) Drops By 60.5%

Key Points

• Short interest in Arq, Inc. fell sharply in June, dropping 60.5% to 563,360 shares from 1.43 million shares mid-month. That leaves about 1.6% of the company’s shares sold short and a days-to-cover ratio of 0.8.
• ARQ’s stock was trading at $2.32 with a market cap of about $99.6 million, well below its 52-week high of $7.89. The shares also remain under their 50-day and 200-day moving averages.
• Analysts remain cautious overall, with a consensus rating of “Hold” and an average price target of $7.50. The company recently matched EPS expectations and beat revenue estimates in its latest quarterly report.

Arq, Inc. (NASDAQ:ARQ - Get Free Report) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 563,360 shares, a decrease of 60.5% from the June 15th total of 1,426,113 shares. Based on an average trading volume of 714,502 shares, the days-to-cover ratio is presently 0.8 days. Currently, 1.6% of the company's shares are short sold.

ARQ Price Performance

Shares of ARQ stock opened at $2.32 on Monday. ARQ has a twelve month low of $1.54 and a twelve month high of $7.89. The stock has a market capitalization of $99.59 million, a P/E ratio of -1.80 and a beta of 2.00. The company has a current ratio of 1.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.05. The business's fifty day moving average price is $2.54 and its 200 day moving average price is $2.85.

ARQ (NASDAQ:ARQ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.02). The firm had revenue of $29.05 million during the quarter, compared to the consensus estimate of $27.75 million. ARQ had a negative return on equity of 2.67% and a negative net margin of 43.93%. As a group, research analysts anticipate that ARQ will post 0.05 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on ARQ. Wall Street Zen raised shares of ARQ from a "strong sell" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ARQ in a research report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $7.50.

Institutional Trading of ARQ

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in ARQ by 9.7% in the second quarter. Geode Capital Management LLC now owns 766,025 shares of the company's stock valued at $4,114,000 after buying an additional 67,430 shares during the period. Rhumbline Advisers increased its position in shares of ARQ by 65.7% in the second quarter. Rhumbline Advisers now owns 44,607 shares of the company's stock worth $240,000 after acquiring an additional 17,688 shares in the last quarter. American Century Companies Inc. raised its stake 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 valued at $330,000 after acquiring an additional 8,722 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of ARQ by 13.7% during 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 shares of ARQ during the 2nd quarter valued at $93,000. Hedge funds and other institutional investors own 18.49% of the company's stock.

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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