Quest Resource (NASDAQ:QRHC) Coverage Initiated by Analysts at Northland Securities

Northland Securities initiated coverage on shares of Quest Resource (NASDAQ:QRHC) in a research report released on Tuesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $12.50 price objective on the business services provider’s stock.

QRHC has been the topic of several other research reports. StockNews.com upgraded shares of Quest Resource from a sell rating to a hold rating in a research note on Friday, September 6th. Craig Hallum lowered their price objective on shares of Quest Resource from $15.00 to $13.00 and set a buy rating on the stock in a research report on Friday, August 9th.

Quest Resource Price Performance

Shares of QRHC opened at $8.78 on Tuesday. The firm’s 50-day simple moving average is $8.49 and its two-hundred day simple moving average is $8.68. The stock has a market cap of $177.84 million, a PE ratio of -31.36, a price-to-earnings-growth ratio of 2.05 and a beta of 0.65. Quest Resource has a fifty-two week low of $6.01 and a fifty-two week high of $10.85. 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 (NASDAQ:QRHC) last issued its earnings results on Thursday, August 8th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.06). The firm had revenue of $73.15 million during the quarter, compared to the consensus estimate of $76.50 million. Quest Resource had a positive return on equity of 5.61% and a negative net margin of 2.29%. Analysts anticipate that Quest Resource will post 0.28 earnings per share for the current fiscal year.

Insider Activity at Quest Resource

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in QRHC. North Star Investment Management Corp. bought a new position in Quest Resource in the first quarter worth approximately $1,287,000. Russell Investments Group Ltd. increased its stake in shares of Quest Resource by 453.5% in the first quarter. Russell Investments Group Ltd. now owns 18,448 shares of the business services provider’s stock worth $158,000 after purchasing an additional 15,115 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Quest Resource by 2.7% in the first quarter. First Eagle Investment Management LLC now owns 356,398 shares of the business services provider’s stock worth $3,058,000 after purchasing an additional 9,490 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Quest Resource in the second quarter worth $406,000. Finally, Privium Fund Management B.V. increased its stake in shares of Quest Resource by 72.6% in the second quarter. Privium Fund Management B.V. now owns 18,900 shares of the business services provider’s stock worth $168,000 after purchasing an additional 7,950 shares in the last quarter. 48.16% of the stock is currently owned by institutional investors.

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.