Insider Buying: Quest Resource Holding Co. (NASDAQ:QRHC) CEO Acquires 16,338 Shares of Stock

Quest Resource Holding Co. (NASDAQ:QRHC) CEO Perry W. Moss acquired 16,338 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average price of $3.01 per share, with a total value of $49,177.38. Following the transaction, the chief executive officer now owns 257,933 shares in the company, valued at $776,378.33. This represents a 6.76 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Quest Resource Stock Down 4.1 %

Shares of NASDAQ:QRHC opened at $2.82 on Friday. The stock’s 50-day moving average price is $4.81 and its two-hundred day moving average price is $6.57. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.15. Quest Resource Holding Co. has a 12-month low of $2.61 and a 12-month high of $10.85. The firm has a market cap of $58.11 million, a price-to-earnings ratio of -7.62, a PEG ratio of 0.76 and a beta of 0.66.

Quest Resource (NASDAQ:QRHC) last issued its quarterly earnings results on Wednesday, March 12th. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Quest Resource had a positive return on equity of 3.11% and a negative net margin of 2.74%. The business had revenue of $69.97 million during the quarter, compared to analyst estimates of $73.63 million. On average, research analysts forecast that Quest Resource Holding Co. will post 0.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on QRHC shares. StockNews.com cut Quest Resource from a “hold” rating to a “sell” rating in a research report on Thursday, March 13th. Northland Securities set a $6.50 price objective on Quest Resource in a research report on Thursday, March 13th.

Hedge Funds Weigh In On Quest Resource

Several hedge funds and other institutional investors have recently modified their holdings of QRHC. Needham Investment Management LLC acquired a new position in shares of Quest Resource in the 3rd quarter valued at about $2,793,000. Truist Financial Corp acquired a new position in shares of Quest Resource in the 4th quarter valued at about $1,605,000. LPL Financial LLC lifted its stake in shares of Quest Resource by 278.2% in the 4th quarter. LPL Financial LLC now owns 110,184 shares of the business services provider’s stock valued at $716,000 after purchasing an additional 81,050 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Quest Resource by 25.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 265,354 shares of the business services provider’s stock valued at $1,724,000 after purchasing an additional 54,282 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Quest Resource by 147.0% in the 4th quarter. JPMorgan Chase & Co. now owns 58,532 shares of the business services provider’s stock valued at $380,000 after purchasing an additional 34,839 shares in the last quarter. 48.16% of the stock is owned by institutional investors and hedge funds.

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.