S&P 500 eases slightly from fresh record high after stronger economic growth
Stephen Nolan, a director at Quest Resource Holding Corp (NASDAQ:QRHC), has recently acquired 4,000 shares of the company’s common stock. The shares were purchased on March 18 at an average price of $2.985, totaling approximately $11,940. This transaction increases Nolan’s direct ownership to 82,176 shares. The insider purchase comes as the stock trades near its 52-week low of $2.61, having declined over 58% in the past year. According to InvestingPro analysis, QRHC currently appears undervalued.
The purchase was made jointly with his spouse, as noted in the filing. Additionally, the filing indicates that Nolan holds deferred stock units under the company’s incentive compensation plans, which will be issued upon his separation from the company. While the company faces challenges with its debt burden, InvestingPro analysts project a return to profitability this year, with 18 additional exclusive insights available to subscribers through their comprehensive Pro Research Report.
In other recent news, Quest Resource Holdings reported its fourth-quarter 2024 financial results, which showed a notable miss on both earnings per share (EPS) and revenue forecasts. The company posted an EPS of -$0.09, significantly below the anticipated $0.03, and revenue of $69.98 million, which fell short of the projected $73.63 million. Quest Resource has implemented several cost-saving measures, including a 15% workforce reduction, expected to save $3 million annually. Despite these challenges, the company remains optimistic about future growth, projecting improvements in the second half of 2025, driven by operational efficiencies and debt repayment strategies.
Additionally, Quest Resource is undergoing significant operational changes, including the implementation of new systems aimed at improving efficiency. The company recently announced a leadership change, with Perry Moss being promoted to CEO, bringing over 30 years of industry experience. Analysts have shown interest in the company’s new vendor management system and its impact on operational efficiency, with management assuring that temporary costs from system implementation are expected to resolve. The company’s refinancing efforts have also resulted in a reduced interest expense by approximately $1 million annually, providing more financial flexibility moving forward.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.