Quest Resource (NASDAQ:QRHC) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Quest Resource (NASDAQ:QRHC) from a sell rating to a hold rating in a report released on Friday.

Separately, Craig Hallum cut their price target on Quest Resource from $15.00 to $13.00 and set a buy rating for the company in a report on Friday, August 9th.

Quest Resource Stock Performance

NASDAQ:QRHC opened at $8.48 on Friday. Quest Resource has a 1 year low of $6.01 and a 1 year high of $10.85. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.49 and a quick ratio of 1.49. The business has a fifty day simple moving average of $8.50 and a two-hundred day simple moving average of $8.58. The company has a market capitalization of $172.82 million, a P/E ratio of -30.28, a P/E/G ratio of 2.10 and a beta of 0.65.

Quest Resource (NASDAQ:QRHC) last issued its earnings results on Thursday, August 8th. The business services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The business had revenue of $73.15 million for the quarter, compared to the consensus estimate of $76.50 million. Quest Resource had a positive return on equity of 5.61% and a negative net margin of 2.29%. On average, analysts expect that Quest Resource will post 0.28 earnings per share for the current year.

Insider Transactions at Quest Resource

In related news, COO David P. Sweitzer sold 16,047 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $8.52, for a total transaction of $136,720.44. Following the completion of the transaction, the chief operating officer now owns 8,511 shares of the company’s stock, valued at $72,513.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, COO David P. Sweitzer sold 22,593 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $8.00, for a total transaction of $180,744.00. Following the completion of the transaction, the chief operating officer now owns 8,511 shares of the company’s stock, valued at $68,088. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David P. Sweitzer sold 16,047 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $8.52, for a total transaction of $136,720.44. Following the completion of the sale, the chief operating officer now directly owns 8,511 shares in the company, valued at $72,513.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,481 shares of company stock valued at $484,129. 22.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Quest Resource

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in Quest Resource by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 168,717 shares of the business services provider’s stock worth $1,484,000 after acquiring an additional 7,945 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Quest Resource during the 2nd quarter valued at about $34,000. Rhumbline Advisers bought a new position in shares of Quest Resource during the 2nd quarter valued at about $145,000. Privium Fund Management B.V. raised its holdings in shares of Quest Resource by 72.6% during the 2nd quarter. Privium Fund Management B.V. now owns 18,900 shares of the business services provider’s stock valued at $168,000 after buying an additional 7,950 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Quest Resource in the 2nd quarter worth approximately $406,000. Institutional investors own 48.16% of the company’s stock.

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.