Quest Resource (NASDAQ:QRHC) Holding Corp (NASDAQ:QRHC) director Audrey Dunning has acquired additional shares in the company, according to a recent filing with the Securities and Exchange Commission. On May 30, 2024, Dunning purchased 2,000 shares of Quest Resource common stock at a price of $9.0898 per share, totaling approximately $18,179.
This transaction has increased Dunning's holdings in the company to a total of 4,000 shares. The acquisition demonstrates a vote of confidence in Quest Resource's future prospects from a member of the company's board.
Quest Resource Holding Corp, operating within the refuse systems industry, has a history of name changes, previously known as Infinity Resources Holdings Corp., YouChange Holdings Corp., and BlueStar Financial Group, Inc. The company is based in The Colony, Texas, and is incorporated in Nevada.
Investors often keep an eye on insider transactions like these as they can provide insights into the company's performance and insider perspectives on its value. The recent purchase by Director Dunning may be of interest to current and potential shareholders as they evaluate their investment in Quest Resource Holding Corp.
InvestingPro Insights
As investors scrutinize the recent insider transaction by Quest Resource Holding Corp (NASDAQ:QRHC) director Audrey Dunning, it's crucial to consider the broader financial context provided by InvestingPro. The company's market capitalization stands at a modest $174.58 million, reflecting its position in the market. Despite a challenging environment, Quest Resource boasts a notable gross profit of $51.47 million over the last twelve months as of Q1 2024, with a gross profit margin of 17.94%, underscoring its ability to maintain profitability in its operations.
One of the InvestingPro Tips highlights that Quest Resource may have difficulty making interest payments on its debt, a factor that could affect the company's financial stability and should be considered by investors. On a more positive note, another InvestingPro Tip suggests that net income is expected to grow this year, which could signal improving financial health and potentially drive value for shareholders.
In terms of stock performance, Quest Resource has experienced a strong return over the last year, with a price total return of 50.43%. This impressive return contrasts with a more recent downturn, as the stock has fared poorly over the last month, seeing a -15.02% return. Nevertheless, the company's liquid assets exceed its short-term obligations, providing a cushion against immediate financial pressures.
For those interested in a deeper dive into Quest Resource's financial outlook, InvestingPro offers additional insights. There are 11 more InvestingPro Tips available at https://www.investing.com/pro/QRHC, which can provide further guidance to investors. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enriching your investment strategy with valuable data and analysis.
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