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Investing.com - Northland downgraded Quest Resource (NASDAQ:QRHC) from Outperform to Market Perform and lowered its price target to $2.25. The stock, currently trading at $1.96, has declined over 74% in the past year and sits near its 52-week low, according to InvestingPro data.
The downgrade follows Quest Resource’s second-quarter 2025 financial results, which showed revenue of $59.5 million and adjusted EBITDA of $2.7 million, falling short of Northland’s estimates of $74.7 million and $4.2 million, respectively.
Gross profit for the quarter reached $11.0 million, below Northland’s projection of $13.1 million.
Northland cited "continued softness with some industrial customers and ongoing macro uncertainties" as primary headwinds facing Quest Resource.
The research firm acknowledged that while Quest Resource is making progress on strategic initiatives, macroeconomic uncertainty suggests these efforts will "take longer to bear fruit."
In other recent news, Quest Resource Holding Corporation reported its second-quarter 2025 financial results, which fell short of expectations. The company’s earnings per share (EPS) were -$0.04, contrasting with the anticipated $0.05, resulting in a notable negative surprise of -180%. Additionally, Quest Resource’s revenue was $59.54 million, missing the forecasted $72.56 million by 17.94%. These results have raised concerns among investors regarding the company’s financial health. The unexpected shortfall in both earnings and revenue highlights the challenges Quest Resource is currently facing.
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