FY2023 EPS Estimates for Quest Resource Holding Co. Reduced by HC Wainwright (NASDAQ:QRHC)

Quest Resource Holding Co. (NASDAQ:QRHC) – Research analysts at HC Wainwright dropped their FY2023 earnings per share estimates for Quest Resource in a report issued on Wednesday, November 15th. HC Wainwright analyst A. Dayal now anticipates that the business services provider will post earnings per share of $0.16 for the year, down from their prior estimate of $0.21. HC Wainwright has a “Buy” rating and a $12.00 price target on the stock. The consensus estimate for Quest Resource’s current full-year earnings is $0.25 per share. HC Wainwright also issued estimates for Quest Resource’s FY2025 earnings at $0.41 EPS.

Quest Resource (NASDAQ:QRHC) last released its quarterly earnings data on Monday, August 14th. The business services provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). Quest Resource had a negative net margin of 2.95% and a positive return on equity of 3.19%. The company had revenue of $74.50 million during the quarter, compared to analyst estimates of $75.23 million.

Separately, StockNews.com began coverage on Quest Resource in a report on Thursday, October 5th. They set a “hold” rating for the company.

Quest Resource Price Performance

Shares of QRHC stock opened at $7.12 on Friday. Quest Resource has a 12-month low of $5.00 and a 12-month high of $8.01. The firm has a 50 day moving average price of $7.40 and a two-hundred day moving average price of $6.79. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.25 and a current ratio of 1.20.

Insiders Place Their Bets

In related news, major shareholder Wynnefield Partners Small Cap purchased 4,173 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was acquired at an average cost of $7.24 per share, for a total transaction of $30,212.52. Following the completion of the purchase, the insider now owns 1,224,808 shares in the company, valued at approximately $8,867,609.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO David P. Sweitzer sold 23,646 shares of the company’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $7.52, for a total transaction of $177,817.92. Following the completion of the sale, the chief operating officer now directly owns 8,511 shares in the company, valued at approximately $64,002.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Wynnefield Partners Small Cap bought 4,173 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was acquired at an average price of $7.24 per share, for a total transaction of $30,212.52. Following the transaction, the insider now owns 1,224,808 shares of the company’s stock, valued at $8,867,609.92. The disclosure for this purchase can be found here. Insiders have acquired a total of 24,919 shares of company stock worth $180,519 in the last quarter. Corporate insiders own 23.59% of the company’s stock.

Institutional Investors Weigh In On Quest Resource

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Quest Resource by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 114,985 shares of the business services provider’s stock valued at $702,000 after purchasing an additional 1,419 shares during the last quarter. Royal Bank of Canada increased its holdings in Quest Resource by 7.9% in the 3rd quarter. Royal Bank of Canada now owns 28,600 shares of the business services provider’s stock worth $241,000 after purchasing an additional 2,100 shares in the last quarter. Skylands Capital LLC boosted its stake in shares of Quest Resource by 0.7% during the second quarter. Skylands Capital LLC now owns 331,150 shares of the business services provider’s stock valued at $2,159,000 after purchasing an additional 2,175 shares in the last quarter. BlackRock Inc. increased its stake in shares of Quest Resource by 9.6% in the second quarter. BlackRock Inc. now owns 53,893 shares of the business services provider’s stock valued at $351,000 after buying an additional 4,727 shares during the period. Finally, Barclays PLC bought a new position in Quest Resource in the 3rd quarter valued at approximately $39,000. 32.21% of the stock is currently owned by institutional investors and hedge funds.

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 offers 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.