Quest Resource (NASDAQ:QRHC) Holding Corp (NASDAQ:QRHC) Executive Vice President and Chief Operating Officer, David P. Sweitzer, has recently engaged in significant trading activity involving the company's stock, according to the latest SEC filings.
Sweitzer completed multiple sales transactions of Quest Resource common stock totaling $317,115. The shares were sold at a weighted average price range between $8.4007 and $9.0068. These sales were conducted in multiple transactions, and further details on the exact number of shares sold at each price point are available upon request from the company or the SEC.
In addition to the sales, Sweitzer also exercised options to acquire a total of 51,407 shares of common stock at a set price of $3.83 per share, amounting to a total transaction value of $143,268. These options were part of an employee stock option plan and represent the right to buy shares as part of the company's incentive compensation plan.
Following these transactions, the executive's direct ownership in the company's stock has seen significant changes. However, the SEC filing also notes that Sweitzer holds deferred stock units under Quest Resource's 2012 Incentive Compensation Plan, which could potentially affect his total interest in the company.
Quest Resource Holding Corp, which operates in the refuse systems industry, has undergone several name changes in its history, previously known as Infinity Resources Holdings Corp., YouChange Holdings Corp, and BlueStar Financial Group, Inc.
Investors and stakeholders in Quest Resource Holding Corp may find this trading activity to be of interest as they monitor the movements of company insiders and evaluate their confidence in the firm's performance and prospects.
In other recent news, Quest Resource Holding Corp showcased a promising financial performance in the first quarter of 2024 with an 11.1% year-over-year increase in gross profit dollars, despite a slight decline in revenue. The company's revenue for Q1 2024 was reported at $72.7 million, a minor 2% decrease year-over-year, but a 5% increase from the previous quarter. Gross profit dollars for the same period reached $14 million, marking an 11.1% rise from the previous year.
Quest Resource's strategic focus on client expansion and operational efficiency enhancement through technological investments resulted in six new client acquisitions in the last quarter and one significant win early in the second quarter. These developments are anticipated to contribute to continued growth in gross profit dollars throughout the year.
The company also improved its financial flexibility by extending debt maturities and increasing borrowing capacity. Quest Resource is optimistic about future quarters, expecting sequential growth in gross profit dollars in Q2 and year-over-year growth throughout 2024. The company is currently working on over 50 potential projects with existing clients to address waste management issues, highlighting recent developments in the company's operations.
InvestingPro Insights
In light of the recent insider trading activity by Quest Resource Holding Corp's (NASDAQ:QRHC) Executive Vice President and Chief Operating Officer, David P. Sweitzer, investors may be seeking additional context to assess the company's financial health and future prospects. Here are some key metrics and insights from InvestingPro that could provide valuable information:
Quest Resource Holding Corp currently has a market capitalization of $167.1 million, which could be considered modest in the refuse systems industry. Despite a challenging market environment, the company has maintained a gross profit margin of 17.94% over the last twelve months as of Q1 2024, according to the latest data. However, investors should note that the company's Price/Earnings (P/E) Ratio stands at -28.67, reflecting market skepticism about its profitability in the near term. The P/E Ratio adjusted for the last twelve months as of Q1 2024 is even higher at -35.82, which could indicate that the company is trading at a premium given its current earnings.
InvestingPro Tips highlight several critical points for potential investors. One notable insight is that Quest Resource's net income is expected to grow this year, which could signal a turnaround for the company. Additionally, the company's Relative Strength Index (RSI) suggests that the stock is currently in oversold territory, potentially indicating an opportunity for investors looking for an entry point.
For those interested in a deeper analysis, there are 6 additional InvestingPro Tips available at https://www.investing.com/pro/QRHC, which could provide further guidance on the company's financial health and investment potential. Remember to use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
As stakeholders consider the implications of insider trading activity, these InvestingPro metrics and tips can offer a more comprehensive understanding of Quest Resource's position in the market, aiding in informed investment decisions.
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