Quest Resource (NASDAQ: QRHC) Coverage launched on launched coverage on the shares of Quest Resource (NASDAQ:QRHC – Get Rating) in a research note released Sunday to investors. The brokerage has set a “hold” rating on the shares of the business services provider.

Several other equity analysts have also published reports on QRHC. Craig Hallum took over coverage for Quest Resource in a research note on Monday, February 14. They set a “buy” rating and a price target of $13.00 on the stock. Roth Capital reissued a “buy” rating on Quest Resource shares in a Friday, March 18 report. HC Wainwright reissued a “buy” rating on Quest Resource shares in a Friday, March 18 report. Finally, Zacks Investment Research upgraded Quest Resource from a “hold” rating to a “strong-buy” rating and set a price target of $5.75 on the stock in a Friday, May 20 report. One financial analyst gave the stock a hold rating, three gave the company a buy rating and one gave the company a high buy rating. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $10.19.

Shares of NASDAQ:QRHC opened at $4.39 on Friday. Quest Resource has a fifty-two week low of $4.28 and a fifty-two week high of $8.30. The company has a 50-day moving average of $5.45 and a 200-day moving average of $6.07. The stock has a market capitalization of $83.67 million, a P/E ratio of -48.77, a P/E/G ratio of 1.11 and a beta of 1.38. The company has a debt ratio of 0.92, a current ratio of 1.30 and a quick ratio of 1.30.

Quest Resource (NASDAQ: QRHC – Get Rating) last announced its quarterly results on Monday, May 16. The business services provider reported ($0.11) earnings per share for the quarter, missing analyst consensus estimates of $0.07 per ($0.18). Quest Resource posted a positive return on equity of 5.81% and a negative net margin of 0.85%. During the same period last year, the company posted earnings per share of $0.06. As a group, research analysts expect Quest Resource to post EPS of 0.27 for the current fiscal year.

In other news from Quest Resource, major shareholder Barry M. Kitt purchased 36,859 shares in a trade dated Friday, April 29. The shares were purchased at an average cost of $5.51 per share, with a total value of $203,093.09. Following the completion of the acquisition, the insider now owns 2,464,969 shares of the company, valued at $13,581,979.19. The purchase was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website. Additionally, major shareholder Wynnefield Partners Small Cap purchased 5,855 shares in a transaction dated Wednesday, March 23. The shares were acquired at an average cost of $6.25 per share, for a total transaction of $36,593.75. Disclosure of this purchase can be found here. During the last quarter, insiders acquired 136,519 shares of the company valued at $733,281. Company insiders hold 21.91% of the company’s shares.

Several institutional investors and hedge funds have recently changed their positions in the company. Advisor Group Holdings Inc. increased its position in Quest Resource by 629.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 9,040 shares of the business services provider valued at $62,000 after buying an additional 7,800 shares last quarter. Goldman Sachs Group Inc. acquired a new stake in Quest Resource in the second quarter worth approximately $73,000. Greenhaven Road Investment Management LP acquired a new stake in Quest Resource in the fourth quarter valued at approximately $168,000. State Street Corp increased its holdings of Quest Resource shares 14.2% in the first quarter. State Street Corp now owns 43,947 shares of the business services provider worth $270,000 after purchasing an additional 5,462 shares during the period. Finally, Millennium Management LLC acquired a new stock position in Quest Resource during the third quarter worth $274,000. 41.89% of the shares are currently held by institutional investors.

About the Quest Resource (Get a rating)

Quest Resource Holding Corporation, together with its subsidiaries, provides solutions for the reuse, recycling and disposal of various waste streams and recyclable materials in the United States. It offers disposal and recycling services for motor oil and automotive lubricants, oil filters, used tires, oily water, destruction of goods, food scraps, rendered meat, waste cooking and grease trap oil, plastics, cardboard, metal, glass, mixed paper, construction debris, and a wide variety of regulated and unregulated solid, liquid and gaseous wastes.

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