In a challenging market environment, Quest Resource (NASDAQ:QRHC) Holding Corporation (QRHC) stock has hit a 52-week low, reaching a price level of $5.8 USD. According to InvestingPro analysis, the stock's RSI indicates oversold territory, while analysts maintain an optimistic target of $11-11.50, suggesting potential upside. This downturn reflects a significant retreat from its previous year's performance, with the stock experiencing a 1-year change of -19.78%. Investors are closely monitoring QRHC as it navigates through the current economic headwinds, with InvestingPro data showing a significant debt burden but also highlighting expected net income growth this year. The 52-week low serves as a critical juncture for Quest Resource Holding Corporation, as market participants consider the stock's potential for recovery or further decline in the coming months. Discover 11 additional key insights about QRHC with an InvestingPro subscription.
In other recent news, Quest Resource Holding Corp. reported a slight revenue increase of 3.3% year-over-year to $72.8 million in its third-quarter earnings call. Despite facing challenges such as weaker market conditions and client attrition, the company managed to offset these with the addition of seven new clients contributing $16 million. However, a decrease in gross profit by 5.9% was noted, due to a mix shift in revenue, higher service costs, and unexpected billing credits.
Quest Resource also expressed optimism for future growth, highlighting a strong pipeline and potential cost savings from new technology. The company anticipates over $20 million in net incremental revenue in 2025, driven by new client growth and technology enhancements.
In terms of financial management, the company is taking steps to refinance its debt to improve terms and reduce interest rates. Despite temporary increases in Days Sales Outstanding (DSOs), the company is confident in implementing enhanced processes for improvements. These recent developments reflect Quest Resource's active approach to navigating through market challenges and its commitment to operational efficiencies.
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