Canaccord Genuity Group Has Lowered Expectations for ARQ (NASDAQ:ARQ) Stock Price

ARQ (NASDAQ:ARQ) had its price objective decreased by Canaccord Genuity Group from $10.00 to $9.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 51.77% from the stock’s current price.

Separately, Canaccord Genuity Group began coverage on shares of ARQ in a research report on Tuesday, November 19th. They set a “buy” rating and a $10.00 target price on the stock.

ARQ Trading Up 3.5 %

NASDAQ ARQ opened at $5.93 on Tuesday. The firm has a 50 day simple moving average of $6.74 and a 200-day simple moving average of $6.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.28 and a current ratio of 2.89. ARQ has a one year low of $3.10 and a one year high of $8.26. The firm has a market cap of $249.24 million, a price-to-earnings ratio of -593.00 and a beta of 1.49.

Institutional Investors Weigh In On ARQ

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in ARQ by 0.8% during the third quarter. Geode Capital Management LLC now owns 596,468 shares of the company’s stock worth $3,502,000 after acquiring an additional 4,545 shares during the period. Firsthand Capital Management Inc. purchased a new position in ARQ in the 3rd quarter worth about $40,000. Charles Schwab Investment Management Inc. increased its stake in ARQ by 12.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,646 shares of the company’s stock worth $603,000 after purchasing an additional 8,909 shares in the last quarter. Avanza Fonder AB purchased a new position in ARQ in the 4th quarter worth about $68,000. Finally, American Century Companies Inc. increased its stake in ARQ by 32.3% in the 4th quarter. American Century Companies Inc. now owns 38,717 shares of the company’s stock worth $293,000 after purchasing an additional 9,442 shares in the last quarter. 18.49% of the stock is currently owned by institutional investors.

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.