In a recent transaction, David P. Sweitzer, the Executive Vice President and Chief Operating Officer of Quest Resource (NASDAQ:QRHC) Holding Corp (NASDAQ:QRHC), sold 22,593 shares of the company's common stock. The sale, dated August 20, 2024, was executed at a weighted average price ranging from $8.00 to $8.03 per share, resulting in a total transaction value of approximately $180,753.
Before this transaction, Sweitzer exercised an option to acquire the same number of shares at a price of $3.83 per share, amounting to a total of $86,531. The shares represent the number of shares exercised by Sweitzer, as noted in the footnotes of the filing.
The transactions have altered Sweitzer's holdings in Quest Resource Holding Corp significantly, with his ownership standing at 8,511 shares following the sale. Additionally, the filing disclosed that Sweitzer holds deferred stock units granted under the Issuer's 2012 Incentive Compensation Plan.
Quest Resource Holding Corp, with its headquarters in The Colony, Texas, operates within the refuse systems industry under the Energy & Transportation sector. The company has experienced changes in its executive transactions, which are closely monitored by investors for insights into executive sentiment regarding the company's performance and outlook.
Investors and security holders may request further details regarding the specific prices at which the sales were conducted, as indicated by the footnotes in the SEC filing.
In other recent news, Quest Resource Holding Corp has announced its financial results and a new long-term incentive plan. The company reported strong EBITDA for the second quarter in a row, exceeding $5 million, despite a 2% year-over-year decrease in revenue, amounting to $73.1 million. Quest Resource also highlighted its new Long-Term Incentive Plan (2024 LTIP), aiming to align the company's leadership with shareholder interests. The plan grants performance stock units (PSUs) to key personnel, with the potential for conversion into common stock, contingent upon certain company performance metrics.
In line with these developments, Quest Resource has also extended its debt maturity and increased borrowing capacity with PNC Bank, strengthening its financial health. The company continues to implement efficiency initiatives, such as AP automation, contributing to improved customer service and cost reductions. These recent developments reflect Quest Resource's commitment to driving performance and creating long-term value for its shareholders, as well as maintaining a healthy financial position.
InvestingPro Insights
In light of the recent executive stock transactions at Quest Resource Holding Corp (NASDAQ:QRHC), investors may be seeking a deeper understanding of the company's financial health and future prospects. According to InvestingPro data, Quest Resource Holding Corp currently holds a market capitalization of approximately $165.92 million. Despite a modest revenue growth of 0.47% over the last twelve months as of Q2 2024, the company's price-to-earnings (P/E) ratio stands at -25.33, reflecting investor concerns about its profitability.
Two InvestingPro Tips that stand out in relation to the article are the anticipation of net income growth this year and the fact that analysts have revised their earnings downwards for the upcoming period. With the company not being profitable over the last twelve months, these contrasting insights suggest a critical period ahead for Quest Resource Holding Corp as it strives to turn its financials around. Notably, while the company's liquid assets exceed short-term obligations, indicating a degree of financial stability, it is trading at a high EBIT valuation multiple, which could be a point of caution for potential investors.
For those interested in the executive sentiment and future performance of Quest Resource Holding Corp, additional InvestingPro Tips are available. As of now, there are six more tips listed on InvestingPro, providing a richer analysis for those considering an investment in the company. For more detailed information and tips, visit https://www.investing.com/pro/QRHC.
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