Quest Resource (NASDAQ:QRHC) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Quest Resource (NASDAQ:QRHC) announced its quarterly earnings results on Monday. The business services provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03), Zacks reports. Quest Resource had a negative net margin of 9.34% and a negative return on equity of 13.12%.

Quest Resource Stock Down 2.8%

NASDAQ QRHC traded down $0.04 during mid-day trading on Monday, hitting $1.41. The company’s stock had a trading volume of 193,870 shares, compared to its average volume of 189,764. The firm has a market capitalization of $29.20 million, a price-to-earnings ratio of -1.17 and a beta of 0.24. The company’s 50 day simple moving average is $1.52 and its 200 day simple moving average is $1.90. Quest Resource has a twelve month low of $1.11 and a twelve month high of $7.40. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.62.

Analyst Ratings Changes

A number of research firms have weighed in on QRHC. Northland Capmk downgraded Quest Resource from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of Quest Resource from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Northland Securities lowered Quest Resource from an “outperform” rating to a “market perform” rating and set a $2.25 price target on the stock. in a research note on Tuesday, August 12th. Wall Street Zen downgraded Quest Resource from a “hold” rating to a “sell” rating in a research note on Sunday, August 3rd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Quest Resource in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $2.25.

Insider Activity at Quest Resource

In related news, Director Robert J. Lipstein acquired 15,000 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were acquired at an average cost of $1.70 per share, for a total transaction of $25,500.00. Following the purchase, the director owned 37,500 shares in the company, valued at approximately $63,750. The trade was a 66.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Barry M. Kitt acquired 62,867 shares of the business’s stock in a transaction on Monday, October 27th. The shares were purchased at an average cost of $1.36 per share, for a total transaction of $85,499.12. Following the completion of the acquisition, the insider directly owned 2,692,248 shares in the company, valued at approximately $3,661,457.28. The trade was a 2.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 235,991 shares of company stock valued at $320,678. 22.91% of the stock is owned by insiders.

Institutional Trading of Quest Resource

Hedge funds have recently bought and sold shares of the business. Mink Brook Asset Management LLC bought a new position in Quest Resource in the 2nd quarter valued at $405,000. Jane Street Group LLC bought a new position in Quest Resource during the second quarter valued at about $125,000. Qube Research & Technologies Ltd purchased a new stake in Quest Resource during the second quarter worth about $50,000. Goldman Sachs Group Inc. raised its position in Quest Resource by 22.8% in the first quarter. Goldman Sachs Group Inc. now owns 51,990 shares of the business services provider’s stock worth $135,000 after acquiring an additional 9,647 shares during the period. Finally, Bank of America Corp DE boosted its stake in Quest Resource by 36.5% in the fourth quarter. Bank of America Corp DE now owns 15,356 shares of the business services provider’s stock valued at $100,000 after acquiring an additional 4,104 shares during the last quarter. 48.16% of the stock is currently owned by institutional investors.

Quest Resource Company Profile

Quest Resource Holding Corporation, together with its subsidiaries, provides solutions for the reuse, recycling, and disposal of various waste streams and recyclables in the United States. The company provides disposal and recycling services for motor oil and automotive lubricants, oil filters, scrap tires, oily water, goods destruction, food waste, meat renderings, cooking oil and grease trap waste, plastics, cardboard, metal, glass, mixed paper, construction debris, as well as a large variety of regulated and non-regulated solid, liquid, and gas wastes.