Quest Resource (NASDAQ:QRHC) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Quest Resource (NASDAQ:QRHC) to a hold rating in a research note issued to investors on Saturday.

A number of other equities analysts also recently issued reports on the stock. Zacks Research raised shares of Quest Resource from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Quest Resource in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $2.25.

Quest Resource Price Performance

QRHC stock opened at $1.90 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.32 and a current ratio of 1.32. The business has a 50-day simple moving average of $1.87 and a two-hundred day simple moving average of $1.80. The company has a market capitalization of $39.65 million, a P/E ratio of -1.71 and a beta of 0.14. Quest Resource has a 52-week low of $1.11 and a 52-week high of $6.21.

Quest Resource (NASDAQ:QRHC) last posted its earnings results on Monday, November 10th. The business services provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). The company had revenue of $63.34 million during the quarter, compared to the consensus estimate of $59.83 million. Quest Resource had a negative net margin of 8.89% and a negative return on equity of 12.96%. Research analysts expect that Quest Resource will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Barry M. Kitt purchased 103,412 shares of the business’s stock in a transaction on Thursday, October 23rd. The stock was purchased at an average cost of $1.26 per share, with a total value of $130,299.12. Following the acquisition, the insider directly owned 2,595,901 shares in the company, valued at approximately $3,270,835.26. This trade represents a 4.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders bought 204,759 shares of company stock valued at $270,127. 22.91% of the stock is owned by company insiders.

Institutional Investors Weigh In On Quest Resource

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in Quest Resource by 22.8% during the first quarter. Goldman Sachs Group Inc. now owns 51,990 shares of the business services provider’s stock worth $135,000 after buying an additional 9,647 shares in the last quarter. Connors Investor Services Inc. boosted its position in shares of Quest Resource by 25.0% during the 2nd quarter. Connors Investor Services Inc. now owns 50,026 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 10,000 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Quest Resource during the second quarter worth about $156,000. Mink Brook Asset Management LLC increased its position in shares of Quest Resource by 52.0% in the third quarter. Mink Brook Asset Management LLC now owns 304,418 shares of the business services provider’s stock worth $475,000 after purchasing an additional 104,085 shares during the last quarter. Finally, Truist Financial Corp raised its stake in Quest Resource by 11.8% in the third quarter. Truist Financial Corp now owns 276,222 shares of the business services provider’s stock valued at $431,000 after purchasing an additional 29,253 shares in the last quarter. Hedge funds and other institutional investors own 48.16% of the company’s stock.

About Quest Resource

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.