Quest Resource (NASDAQ:QRHC) Now Covered by Northland Securities

Equities research analysts at Northland Securities started coverage on shares of Quest Resource (NASDAQ:QRHC) in a report issued on Tuesday, Marketbeat reports. The brokerage set an “outperform” rating and a $12.50 price target on the business services provider’s stock. Northland Securities’ target price indicates a potential upside of 42.37% from the stock’s previous close.

Several other analysts have also commented on the company. StockNews.com raised Quest Resource from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Craig Hallum cut 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 Price Performance

Quest Resource stock opened at $8.78 on Tuesday. The firm has a market cap of $177.84 million, a price-to-earnings ratio of -31.36, a PEG ratio of 2.05 and a beta of 0.65. The stock has a fifty day simple moving average of $8.49 and a two-hundred day simple moving average of $8.68. Quest Resource has a 12 month low of $6.01 and a 12 month high of $10.85. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.08.

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

Insider Activity at Quest Resource

In other news, COO David P. Sweitzer sold 16,047 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $8.52, for a total value of $136,720.44. Following the completion of the transaction, the chief operating officer now owns 8,511 shares of the company’s stock, valued at $72,513.72. The transaction was disclosed in a 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 stock was sold at an average price of $8.52, for a total value of $136,720.44. Following the completion of the transaction, the chief operating officer now owns 8,511 shares of the company’s stock, valued at $72,513.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO David P. Sweitzer sold 22,593 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $8.00, for a total value of $180,744.00. Following the completion of the transaction, the chief operating officer now directly owns 8,511 shares of the company’s stock, valued at approximately $68,088. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,481 shares of company stock worth $484,129. Corporate insiders own 22.84% of the company’s stock.

Hedge Funds Weigh In On Quest Resource

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in Quest Resource during the second quarter valued at approximately $34,000. Rhumbline Advisers purchased a new stake in Quest Resource during the second quarter valued at approximately $145,000. Russell Investments Group Ltd. raised its position in Quest Resource by 453.5% during the first quarter. Russell Investments Group Ltd. now owns 18,448 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 15,115 shares during the period. Privium Fund Management B.V. raised its position in Quest Resource by 72.6% during the second 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 during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Quest Resource in the second quarter worth approximately $406,000. 48.16% of the stock is 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.