Quest Resource (NASDAQ:QRHC) Major Shareholder Buys $130,299.12 in Stock

Quest Resource Holding Corporation. (NASDAQ:QRHC) major shareholder Barry Kitt bought 103,412 shares of Quest Resource stock in a transaction that occurred on Thursday, October 23rd. The shares were acquired at an average price of $1.26 per share, with a total value of $130,299.12. Following the acquisition, the insider directly owned 2,595,901 shares of the company’s stock, valued at $3,270,835.26. The trade was a 4.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Quest Resource Stock Down 7.1%

Shares of QRHC stock opened at $1.45 on Friday. The firm’s fifty day moving average price is $1.56 and its two-hundred day moving average price is $1.94. Quest Resource Holding Corporation. has a 1 year low of $1.11 and a 1 year high of $8.37. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $30.03 million, a P/E ratio of -1.20 and a beta of 0.25.

Quest Resource (NASDAQ:QRHC) last announced its quarterly earnings data on Monday, August 11th. The business services provider reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). Quest Resource had a negative net margin of 9.34% and a negative return on equity of 13.12%. The company had revenue of $59.54 million during the quarter, compared to the consensus estimate of $72.56 million. On average, equities analysts predict that Quest Resource Holding Corporation. will post 0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Quest Resource

Institutional investors have recently modified their holdings of the business. Mink Brook Asset Management LLC acquired a new position in shares of Quest Resource in the second quarter valued at about $405,000. Kennedy Capital Management LLC raised its stake in Quest Resource by 52.5% in the 2nd quarter. Kennedy Capital Management LLC now owns 311,289 shares of the business services provider’s stock worth $629,000 after purchasing an additional 107,107 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Quest Resource in the 2nd quarter valued at about $156,000. Jane Street Group LLC bought a new stake in Quest Resource in the 2nd quarter valued at about $125,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Quest Resource during the 2nd quarter worth approximately $50,000. Institutional investors own 48.16% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.