Virtu Financial LLC Invests $217,000 in Arq, Inc. (NASDAQ:ARQ)

Virtu Financial LLC acquired a new stake in shares of Arq, Inc. (NASDAQ:ARQ) in the third quarter, HoldingsChannel reports. The fund acquired 37,017 shares of the company’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ARQ. AIGH Capital Management LLC acquired a new position in shares of ARQ during the second quarter worth approximately $13,002,000. Dimensional Fund Advisors LP bought a new stake in ARQ in the 2nd quarter valued at $1,524,000. Maven Securities LTD acquired a new stake in ARQ in the 2nd quarter worth $607,000. State Street Corp increased its holdings in shares of ARQ by 19.6% during the 3rd quarter. State Street Corp now owns 394,751 shares of the company’s stock worth $2,317,000 after purchasing an additional 64,595 shares during the period. Finally, Perritt Capital Management Inc acquired a new position in shares of ARQ during the second quarter valued at about $367,000. Hedge funds and other institutional investors own 18.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ARQ shares. Canaccord Genuity Group began coverage on ARQ in a research note on Tuesday, November 19th. They set a “buy” rating and a $10.00 price target on the stock. Canaccord Genuity Group began coverage on ARQ in a research note on Tuesday, November 19th. They issued a “buy” rating and a $10.00 target price for the company.

Insiders Place Their Bets

In other news, CEO Robert E. Rasmus acquired 25,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was bought at an average price of $5.25 per share, with a total value of $131,250.00. Following the completion of the acquisition, the chief executive officer now owns 450,792 shares in the company, valued at approximately $2,366,658. This represents a 5.87 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 26.87% of the company’s stock.

ARQ Stock Performance

NASDAQ ARQ opened at $6.76 on Thursday. Arq, Inc. has a twelve month low of $2.50 and a twelve month high of $8.26. The company has a quick ratio of 2.28, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The stock has a market cap of $284.14 million, a P/E ratio of -676.00 and a beta of 1.51. The company’s 50-day simple moving average is $6.68 and its 200 day simple moving average is $6.27.

ARQ (NASDAQ:ARQ) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $34.77 million during the quarter, compared to the consensus estimate of $30.60 million. ARQ had a negative net margin of 0.44% and a negative return on equity of 0.25%. During the same quarter in the prior year, the company posted ($0.07) earnings per share. As a group, research analysts forecast that Arq, Inc. will post -0.13 earnings per share for the current fiscal year.

ARQ Company Profile

Arq, Inc produces activated carbon products in North America. The company's products include granular activated carbon, powdered and granular activated carbon, and colloidal carbon products; Arq Powder Wetcake, a fine and low-ash coal waste-derived particle; and additives for air emissions control.