Needham Investment Management LLC Purchases New Shares in Quest Resource Holding Co. (NASDAQ:QRHC)

Needham Investment Management LLC acquired a new position in shares of Quest Resource Holding Co. (NASDAQ:QRHC) during the third quarter, Holdings Channel reports. The fund acquired 350,000 shares of the business services provider’s stock, valued at approximately $2,793,000.

Several other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in Quest Resource in the 2nd quarter worth about $34,000. BNP Paribas Financial Markets boosted its stake in shares of Quest Resource by 62.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,063 shares of the business services provider’s stock worth $80,000 after buying an additional 3,850 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Quest Resource by 129.1% during the third quarter. MetLife Investment Management LLC now owns 10,285 shares of the business services provider’s stock valued at $82,000 after acquiring an additional 5,795 shares during the last quarter. Rhumbline Advisers bought a new stake in Quest Resource during the second quarter worth $145,000. Finally, GSA Capital Partners LLP purchased a new position in Quest Resource in the third quarter worth $148,000. Institutional investors own 48.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on QRHC. Craig Hallum cut their price target on shares of Quest Resource from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, August 9th. StockNews.com raised shares of Quest Resource from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Northland Capmk raised Quest Resource to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, Northland Securities began coverage on Quest Resource in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $12.50 target price on the stock.

Quest Resource Trading Down 0.3 %

Shares of NASDAQ QRHC traded down $0.02 during midday trading on Tuesday, hitting $7.16. The company’s stock had a trading volume of 2,278 shares, compared to its average volume of 56,537. The stock has a fifty day moving average price of $7.79 and a 200 day moving average price of $8.36. Quest Resource Holding Co. has a one year low of $6.01 and a one year high of $10.85. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.52 and a current ratio of 1.52.

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.