Quest Resource (NASDAQ:QRHC) Major Shareholder Barry Kitt Acquires 103,412 Shares of Stock

Quest Resource Holding Corporation. (NASDAQ:QRHC) major shareholder Barry Kitt bought 103,412 shares of Quest Resource stock in a transaction on Thursday, October 23rd. The stock was purchased at an average price of $1.26 per share, with a total value of $130,299.12. Following the completion of the acquisition, the insider directly owned 2,595,901 shares of the company’s stock, valued at $3,270,835.26. This represents a 4.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Quest Resource Stock Up 16.3%

Quest Resource stock opened at $1.57 on Wednesday. Quest Resource Holding Corporation. has a 1-year low of $1.11 and a 1-year high of $8.37. The business has a fifty day moving average price of $1.57 and a 200-day moving average price of $1.96. 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 $32.51 million, a price-to-earnings ratio of -1.30 and a beta of 0.25.

Quest Resource (NASDAQ:QRHC) last released its 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). The company had revenue of $59.54 million for the quarter, compared to analysts’ expectations of $72.56 million. Quest Resource had a negative return on equity of 13.12% and a negative net margin of 9.34%. Equities research analysts forecast that Quest Resource Holding Corporation. will post 0.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on QRHC. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quest Resource in a research note on Wednesday, October 8th. Northland Capmk lowered Quest Resource from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 12th. Zacks Research raised shares of Quest Resource from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Northland Securities downgraded 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 report on Tuesday, August 12th. Finally, Wall Street Zen lowered shares of Quest Resource from a “hold” rating to a “sell” rating in a research note on Sunday, August 3rd. Three 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 presently has a consensus rating of “Reduce” and a consensus target price of $2.25.

Hedge Funds Weigh In On Quest Resource

Several large investors have recently made changes to their positions in the company. Mink Brook Asset Management LLC acquired a new position in Quest Resource in the 2nd quarter worth about $405,000. Jane Street Group LLC purchased a new stake in shares of Quest Resource in the second quarter valued at approximately $125,000. Qube Research & Technologies Ltd acquired a new position in shares of Quest Resource during the 2nd quarter worth approximately $50,000. Kennedy Capital Management LLC lifted its position in shares of Quest Resource by 52.5% during the 2nd quarter. Kennedy Capital Management LLC now owns 311,289 shares of the business services provider’s stock valued at $629,000 after buying an additional 107,107 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Quest Resource in the 2nd quarter valued at $156,000. 48.16% of the stock is currently owned by institutional investors and hedge funds.

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.