S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
Daniel Friedberg, a director at Quest Resource Holding Corp (NASDAQ:QRHC), recently increased his stake in the company. According to a recent SEC filing, Friedberg acquired a total of 12,574 shares of common stock over two days. The timing appears strategic, as InvestingPro data shows the stock is trading near oversold levels after declining 57% over the past year. The purchases were made through Hampstead Park Environmental Services Investment Fund LLC, with the transactions occurring on March 18 and March 19. The shares were bought at a weighted average price range of $2.9475 to $2.9616 per share, totaling approximately $37,098. Notably, analysts have set price targets between $6.50 and $7.00, suggesting potential upside from current levels. InvestingPro analysis indicates the stock is currently undervalued, with 16 additional ProTips available for subscribers.
Following these transactions, Friedberg, through Hampstead Park Environmental Services Investment Fund LLC, now holds a total of 2,825,121 shares indirectly. Additionally, Friedberg has direct ownership of 28,112 shares, which includes deferred stock units granted under the company’s incentive compensation plans. The company, with a market capitalization of approximately $61 million, has shown recent momentum with a 13.8% return over the past week.
In other recent news, Quest Resource Holdings reported its fourth-quarter 2024 financial results, which showed a significant miss on both earnings per share (EPS) and revenue estimates. The company posted an EPS of -$0.09, falling short of the anticipated $0.03, and revenue of $69.98 million, which was below the forecasted $73.63 million. Despite a slight revenue increase of 1% year-over-year, gross profit dollars decreased by 6.7% to $10.7 million. The company has implemented cost-saving measures, including a 15% workforce reduction, aiming to save $3 million annually. Quest Resource is optimistic about its future, projecting growth in 2025, with expectations of operational improvements and debt repayment strategies. In addition, the company has undergone leadership changes, with Perry Moss appointed as the new CEO, succeeding Ray Hatch. Analysts have noted these developments, and the company’s stock experienced a decline following the earnings announcement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.