Quest Resource (NASDAQ:QRHC) Major Shareholder Barry Kitt Acquires 33,480 Shares

Quest Resource Holding Corporation. (NASDAQ:QRHC) major shareholder Barry Kitt purchased 33,480 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were acquired at an average cost of $1.33 per share, with a total value of $44,528.40. Following the completion of the purchase, the insider directly owned 2,629,381 shares in the company, valued at approximately $3,497,076.73. This represents a 1.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Quest Resource Price Performance

Shares of QRHC opened at $1.35 on Tuesday. The stock has a market capitalization of $27.96 million, a P/E ratio of -1.12 and a beta of 0.25. Quest Resource Holding Corporation. has a twelve month low of $1.11 and a twelve month high of $8.37. The company has a 50 day moving average of $1.57 and a 200-day moving average of $1.96. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.62.

Quest Resource (NASDAQ:QRHC) last issued its quarterly earnings results 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 return on equity of 13.12% and a negative net margin of 9.34%.The business had revenue of $59.54 million for the quarter, compared to the consensus estimate of $72.56 million. As a group, equities research analysts forecast that Quest Resource Holding Corporation. will post 0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Quest Resource

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in Quest Resource during the first quarter worth $27,000. Cresset Asset Management LLC bought a new position in Quest Resource during the first quarter worth $43,000. Qube Research & Technologies Ltd bought a new position in Quest Resource during the second quarter worth $50,000. Nuveen LLC bought a new position in Quest Resource during the first quarter worth $60,000. Finally, Bank of America Corp DE lifted its holdings in shares of Quest Resource by 36.5% during the fourth quarter. Bank of America Corp DE now owns 15,356 shares of the business services provider’s stock worth $100,000 after buying an additional 4,104 shares in the last quarter. 48.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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