Quest Resource (NASDAQ:QRHC) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Quest Resource (NASDAQ:QRHC) from a sell rating to a hold rating in a research report report published on Friday.

Separately, Craig Hallum dropped their price objective on Quest Resource from $15.00 to $13.00 and set a buy rating for the company in a report on Friday, August 9th.

Quest Resource Stock Performance

Shares of QRHC stock opened at $8.48 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.49 and a current ratio of 1.49. Quest Resource has a fifty-two week low of $6.01 and a fifty-two week high of $10.85. The company has a market capitalization of $172.82 million, a P/E ratio of -30.28, a PEG ratio of 2.10 and a beta of 0.65. The stock has a 50 day moving average price of $8.50 and a two-hundred day moving average price of $8.58.

Quest Resource (NASDAQ:QRHC) last announced its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06). Quest Resource had a negative net margin of 2.29% and a positive return on equity of 5.61%. The firm had revenue of $73.15 million for the quarter, compared to analysts’ expectations of $76.50 million. Analysts expect that Quest Resource will post 0.28 earnings per share for the current year.

Insider Buying and Selling at Quest Resource

In other Quest Resource news, COO David P. Sweitzer sold 16,047 shares of Quest Resource stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $8.52, for a total transaction of $136,720.44. Following the sale, the chief operating officer now directly owns 8,511 shares of the company’s stock, valued at approximately $72,513.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO David P. Sweitzer sold 16,047 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $8.52, for a total value of $136,720.44. Following the sale, the chief operating officer now directly owns 8,511 shares of the company’s stock, valued at approximately $72,513.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David P. Sweitzer sold 22,593 shares of Quest Resource stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $8.00, for a total transaction of $180,744.00. Following the transaction, the chief operating officer now directly owns 8,511 shares of the company’s stock, valued at $68,088. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,481 shares of company stock valued at $484,129. 22.84% of the stock is currently owned by company insiders.

Institutional Trading of Quest Resource

Several hedge funds and other institutional investors have recently made changes to their positions in QRHC. Dimensional Fund Advisors LP grew its stake in shares of Quest Resource by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 168,717 shares of the business services provider’s stock worth $1,484,000 after acquiring an additional 7,945 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Quest Resource in the 2nd quarter worth about $34,000. Rhumbline Advisers purchased a new stake in Quest Resource during the 2nd quarter valued at about $145,000. Privium Fund Management B.V. increased its stake in Quest Resource by 72.6% during the 2nd quarter. Privium Fund Management B.V. now owns 18,900 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 7,950 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Quest Resource in the second quarter worth about $406,000. Hedge funds and other institutional investors own 48.16% of the company’s stock.

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.