Insider Selling: Quest Resource Holding Corp (QRHC) Director Sells 500,000 Shares of Stock

Quest Resource Holding Corp (NASDAQ:QRHC) Director Jeffrey D. Forte sold 500,000 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $1.50, for a total transaction of $750,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ:QRHC opened at $2.11 on Wednesday. The firm has a market capitalization of $32.35 million, a P/E ratio of -17.58, a price-to-earnings-growth ratio of 9.33 and a beta of 2.18. Quest Resource Holding Corp has a 52 week low of $1.26 and a 52 week high of $3.10. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.25.

Quest Resource (NASDAQ:QRHC) last issued its earnings results on Thursday, March 14th. The business services provider reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $25.26 million for the quarter, compared to analysts’ expectations of $26.74 million. Quest Resource had a negative net margin of 2.35% and a negative return on equity of 3.02%. As a group, equities analysts forecast that Quest Resource Holding Corp will post 0.01 earnings per share for the current fiscal year.

QRHC has been the subject of several analyst reports. Roth Capital reissued a “buy” rating on shares of Quest Resource in a report on Monday, April 15th. HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of Quest Resource in a research report on Friday, March 22nd.

Several institutional investors and hedge funds have recently made changes to their positions in QRHC. Essex Investment Management Co. LLC boosted its stake in shares of Quest Resource by 120.5% during the 4th quarter. Essex Investment Management Co. LLC now owns 131,453 shares of the business services provider’s stock valued at $179,000 after purchasing an additional 71,835 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Quest Resource by 18.8% during the 3rd quarter. Renaissance Technologies LLC now owns 226,370 shares of the business services provider’s stock valued at $580,000 after purchasing an additional 35,760 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Quest Resource by 124.3% during the 4th quarter. Deutsche Bank AG now owns 20,185 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 11,185 shares in the last quarter. 14.00% of the stock is currently owned by hedge funds and other institutional investors.

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Quest Resource Company Profile

Quest Resource Holding Corporation, through its subsidiaries, provides solutions for the reuse, recycle, and dispose various waste streams and recyclables in the United States. The company offers recycling and waste management services for motor oil, oil filters, scrap tires, grease and cooking oil, food waste, and expired food products; and various other materials, such as glass, cardboard, paper, and metal, as well as hazardous materials, plastics, construction debris, batteries, mercury, lights, regulated waste, electronic devices, and industrial cleaning products.

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