S. Ray Hatch Acquires 5,000 Shares of Quest Resource Holding Co. (NASDAQ:QRHC) Stock

Quest Resource Holding Co. (NASDAQ:QRHC) Director S. Ray Hatch bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average price of $2.85 per share, with a total value of $14,250.00. Following the acquisition, the director now directly owns 50,774 shares in the company, valued at $144,705.90. The trade was a 10.92 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Quest Resource Price Performance

Shares of QRHC opened at $2.94 on Wednesday. The firm has a fifty day moving average price of $4.99 and a 200 day moving average price of $6.66. Quest Resource Holding Co. has a 1-year low of $2.61 and a 1-year high of $10.85. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a market cap of $60.58 million, a PE ratio of -7.95, a price-to-earnings-growth ratio of 0.76 and a beta of 0.66.

Quest Resource (NASDAQ:QRHC) last announced its earnings results on Wednesday, March 12th. The business services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Quest Resource had a negative net margin of 2.74% and a positive return on equity of 3.11%. The business had revenue of $69.97 million during the quarter, compared to analysts’ expectations of $73.63 million. As a group, sell-side analysts anticipate that Quest Resource Holding Co. will post 0.09 EPS for the current year.

Institutional Investors Weigh In On Quest Resource

A number of institutional investors and hedge funds have recently made changes to their positions in QRHC. Needham Investment Management LLC purchased a new stake in shares of Quest Resource in the third quarter valued at about $2,793,000. Truist Financial Corp purchased a new stake in shares of Quest Resource in the fourth quarter valued at about $1,605,000. LPL Financial LLC increased its stake in shares of Quest Resource by 278.2% during the fourth quarter. LPL Financial LLC now owns 110,184 shares of the business services provider’s stock worth $716,000 after acquiring an additional 81,050 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Quest Resource by 25.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 265,354 shares of the business services provider’s stock worth $1,724,000 after acquiring an additional 54,282 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Quest Resource by 147.0% during the fourth quarter. JPMorgan Chase & Co. now owns 58,532 shares of the business services provider’s stock worth $380,000 after acquiring an additional 34,839 shares during the period. 48.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of Quest Resource from a “hold” rating to a “sell” rating in a report on Thursday, March 13th. Northland Securities set a $6.50 price target on shares of Quest Resource in a research note on Thursday, March 13th.

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.