Canaccord Genuity Group Cuts ARQ (NASDAQ:ARQ) Price Target to $9.00

ARQ (NASDAQ:ARQ) had its price objective lowered by Canaccord Genuity Group from $10.00 to $9.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, 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 objective on the stock.

ARQ Stock Down 1.7 %

ARQ opened at $5.83 on Tuesday. The stock has a market cap of $245.03 million, a PE ratio of -583.00 and a beta of 1.49. The company has a quick ratio of 2.28, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. ARQ has a 52 week low of $3.11 and a 52 week high of $8.26. The business’s fifty day simple moving average is $6.71 and its 200 day simple moving average is $6.41.

Hedge Funds Weigh In On ARQ

Large investors have recently made changes to their positions in the business. Firsthand Capital Management Inc. purchased a new position in shares of ARQ during the third quarter valued at approximately $40,000. Avanza Fonder AB purchased a new position in shares of ARQ during the fourth quarter valued at approximately $68,000. The Manufacturers Life Insurance Company purchased a new position in shares of ARQ during the second quarter valued at approximately $63,000. Murphy Pohlad Asset Management LLC purchased a new position in shares of ARQ during the third quarter valued at approximately $62,000. Finally, Mraz Amerine & Associates Inc. purchased a new position in shares of ARQ during the third quarter valued at approximately $66,000. 18.49% of the stock is currently owned by hedge funds and other 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.