Insider Buying: Quest Resource (NASDAQ:QRHC) Director Acquires $25,500.00 in Stock

Quest Resource Holding Corporation. (NASDAQ:QRHC) Director Robert Lipstein acquired 15,000 shares of the stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $1.70 per share, for a total transaction of $25,500.00. Following the transaction, the director directly owned 37,500 shares in the company, valued at approximately $63,750. This trade represents a 66.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Quest Resource Stock Down 1.8%

QRHC stock opened at $1.61 on Thursday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $33.34 million, a price-to-earnings ratio of -1.33 and a beta of 0.45. The business’s fifty day moving average price is $2.04 and its two-hundred day moving average price is $2.74. Quest Resource Holding Corporation. has a fifty-two week low of $1.41 and a fifty-two week high of $9.20.

Quest Resource (NASDAQ:QRHC) last posted 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). The firm had revenue of $59.54 million for the quarter, compared to the consensus estimate of $72.56 million. Quest Resource had a negative return on equity of 13.12% and a negative net margin of 9.34%. On average, equities analysts anticipate that Quest Resource Holding Corporation. will post 0.09 earnings per share for the current year.

Institutional Trading of Quest Resource

Several hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of Quest Resource by 53.3% in the fourth quarter. Wells Fargo & Company MN now owns 8,143 shares of the business services provider’s stock valued at $53,000 after buying an additional 2,830 shares during the period. Northern Trust Corp lifted its holdings in shares of Quest Resource by 2.3% during the 4th quarter. Northern Trust Corp now owns 130,296 shares of the business services provider’s stock worth $847,000 after acquiring an additional 2,881 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Quest Resource by 36.5% during the 4th quarter. Bank of America Corp DE now owns 15,356 shares of the business services provider’s stock worth $100,000 after acquiring an additional 4,104 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Quest Resource by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 356,781 shares of the business services provider’s stock valued at $2,319,000 after purchasing an additional 4,111 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Quest Resource by 22.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 51,990 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 9,647 shares during the last quarter. 48.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered Quest Resource from a “hold” rating to a “sell” rating in a research note on Sunday, August 3rd. Northland Securities cut 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. Northland Capmk downgraded shares of Quest Resource from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 12th. Finally, Zacks Research raised shares of Quest Resource to a “strong sell” rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Quest Resource has an average rating of “Reduce” and a consensus target price of $2.25.

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.