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

Quest Resource (NASDAQ:QRHC) was upgraded by investment analysts at Wall Street Zen to a “hold” rating in a research note issued on Saturday.

QRHC has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quest Resource in a research note on Wednesday, October 8th. Zacks Research upgraded Quest Resource from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $2.25.

Quest Resource Stock Down 3.1%

Shares of QRHC opened at $1.90 on Friday. The firm has a fifty day moving average price of $1.87 and a 200-day moving average price of $1.80. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.56. The firm 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 12-month low of $1.11 and a 12-month high of $6.21.

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

Insider Buying and Selling

In related news, major shareholder Barry M. Kitt bought 103,412 shares of the stock in a transaction on Thursday, October 23rd. The stock was bought at an average price of $1.26 per share, for a total transaction of $130,299.12. Following the completion of the acquisition, the insider directly owned 2,595,901 shares in the company, valued at approximately $3,270,835.26. This represents a 4.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 204,759 shares of company stock valued at $270,127 over the last ninety days. Insiders own 22.91% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Greenhaven Road Investment Management L.P. lifted its stake in shares of Quest Resource by 137.2% during the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 30,777 shares of the business services provider’s stock worth $48,000 after purchasing an additional 17,801 shares during the last quarter. Mink Brook Asset Management LLC raised its holdings in 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 in the last quarter. Truist Financial Corp lifted its position in shares of Quest Resource by 11.8% during the third quarter. Truist Financial Corp now owns 276,222 shares of the business services provider’s stock valued at $431,000 after buying an additional 29,253 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Quest Resource in the 2nd quarter valued at about $125,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Quest Resource in the 2nd quarter valued at about $50,000. 48.16% of the stock is 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.