Needham Investment Management LLC Makes New Investment in Quest Resource Holding Co. (NASDAQ:QRHC)

Needham Investment Management LLC purchased a new stake in Quest Resource Holding Co. (NASDAQ:QRHC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 350,000 shares of the business services provider’s stock, valued at approximately $2,793,000. Needham Investment Management LLC owned approximately 1.70% of Quest Resource at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in QRHC. Bank of New York Mellon Corp bought a new stake in Quest Resource during the 2nd quarter worth $406,000. Privium Fund Management B.V. boosted its position in Quest Resource by 72.6% during the 2nd quarter. Privium Fund Management B.V. now owns 18,900 shares of the business services provider’s stock worth $168,000 after buying an additional 7,950 shares during the period. Rhumbline Advisers acquired a new position in Quest Resource during the 2nd quarter worth about $145,000. Ashton Thomas Private Wealth LLC bought a new stake in Quest Resource in the second quarter valued at approximately $34,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Quest Resource by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 168,717 shares of the business services provider’s stock valued at $1,484,000 after purchasing an additional 7,945 shares during the last quarter. 48.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com upgraded Quest Resource from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Northland Securities initiated coverage on shares of Quest Resource in a research report on Tuesday, September 17th. They set an “outperform” rating and a $12.50 price objective on the stock. Craig Hallum decreased their target price on Quest Resource from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Northland Capmk upgraded Quest Resource to a “strong-buy” rating in a report on Tuesday, September 17th.

Quest Resource Stock Performance

Shares of Quest Resource stock traded down $0.02 during trading hours on Tuesday, reaching $7.16. The company’s stock had a trading volume of 2,278 shares, compared to its average volume of 56,537. The stock’s fifty day simple moving average is $7.79 and its two-hundred day simple moving average is $8.36. Quest Resource Holding Co. has a one year low of $6.01 and a one year high of $10.85. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.15.

About Quest Resource

Quest Resource Holding Corporation, together with its subsidiaries, provides solutions for the reuse, recycling, and disposal of various waste streams and recyclables in the United States. The company provides disposal and recycling services for motor oil and automotive lubricants, oil filters, scrap tires, oily water, goods destruction, food waste, meat renderings, cooking oil and grease trap waste, plastics, cardboard, metal, glass, mixed paper, construction debris, as well as a large variety of regulated and non-regulated solid, liquid, and gas wastes.