S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
Quest Resource (NASDAQ:QRHC) Holding Corporation (QRHC) stock has hit a 52-week low, trading at $4.9, as the company faces a turbulent market environment. According to InvestingPro data, the company’s financial health score is rated as ’FAIR’, with current market capitalization at $104.38M. This latest price point marks a significant downturn for the stock, which has seen a 1-year change with a decline of 26.24%. While the company operates with a significant debt burden, InvestingPro analysis shows that liquid assets exceed short-term obligations with a current ratio of 1.52. Investors are closely monitoring QRHC’s performance as it navigates through the current economic headwinds, with many keeping an eye on the company’s strategic moves to rebound from this low. Notably, analysts predict the company will return to profitability this year, despite not being profitable over the last twelve months. The market will be watching for any signs of recovery or further dips in the stock’s value in the coming weeks, with the next earnings report due on March 13, 2025. InvestingPro subscribers have access to 12 additional exclusive insights about QRHC’s financial health and future prospects through the comprehensive Pro Research Report.
In other recent news, Quest Resource Holding Corporation has completed a refinancing deal with Monroe Capital (NASDAQ:MRCC) Management Advisors, LLC and PNC Bank. This move is strategically aimed at reducing the company’s long-term cost of capital to support future growth. The revised financing agreements include a $54 million term loan with Monroe, featuring an extended maturity date to June 2030 and a reduced interest rate. Additionally, the agreement with PNC Bank has been updated to increase the revolver commitment from $35 million to $45 million, with a maturity date extended to December 2029 and a reduced interest rate. The company’s Chairman of the Board, Dan Friedberg, and CEO, S. Ray Hatch, highlighted that the successful refinancing, which will cut around $1 million in annual interest expense, reflects the lenders’ confidence in Quest’s business model. CFO Brett Johnston acknowledged the continued partnership with PNC and Monroe, noting that their support positions Quest well for future growth. These are among the recent developments for the company.
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