NEW YORK, June 4, 2026, 10:02 AM EDT
Quest Resource Holding Corp. ticked up on the Nasdaq Thursday, with new proxy filings bringing dilution, board seats and executive compensation back to investors’ focus.
The waste and recycling services stock traded at $1.38, up 0.7%, at 9:50 a.m. in New York. Around 1,050 shares exchanged hands, well below the average volume of 40,500. The company’s market value stood at about $29 million.
The move isn’t a clear signal. In a thinly traded microcap, small trades can move the quote more than the news itself.
Why it matters now: Quest is scheduling its annual meeting for June 30 in Irving, Texas. The proxy gives shareholders the chance to elect two board members, weigh in with a non-binding “say-on-pay” vote on executive pay, ratify the auditor, and sign off on raising the 2024 incentive plan by 600,000 shares and the employee stock purchase plan by 150,000 shares.
Those plan increases don’t move stock into the market directly. For a company this size, though, extra equity-plan room can make a difference. Later awards could dilute current holders, since each share would now represent a smaller piece of the company.
Director Audrey Dunning picked up 2,966 restricted stock units on May 31, Form 4 filings show. The RSUs were granted at $1.18 per unit and are set to vest on May 31, 2027. Restricted stock units become shares after vesting.
Quest reported first-quarter revenue of $61.7 million, down 9.8% from the same time last year but up 4.8% from the fourth quarter. Net loss shrank to $2.3 million, or 11 cents per share, versus $10.4 million, or 50 cents per share. CEO Perry Moss said the operating environment is still tough but the company is “cautiously optimistic.” CFO Brett Johnston said they are focused on “paying down debt.” GlobeNewswire
The company’s latest 10-Q reported $190,000 in net cash from operating activities, up from a use of $1.1 million the year before. Notes payable, net, stood at $63.4 million as of March 31. Adjusted EBITDA, the company’s preferred profit metric, was $1.8 million, up from $1.6 million.
Nasdaq traded lower with the rest of the market. The S&P 500 and Nasdaq Composite both started the day weaker after Broadcom missed revenue estimates, Reuters said. The Nasdaq Composite slipped 1.02% at the open.
Waste-service stocks moved higher, pointing to a firmer tone for the group. Waste Management added around 1.0%, Republic Services picked up about 1.5% and Waste Connections was up roughly 2.0% early on. Quest’s small gain tracked the sector’s move and didn’t stand out on its own.
Quest says it’s not built like the big haulers. The company says it manages operational waste for customers and handles over 100 types of waste in the U.S., Canada and Puerto Rico.
Still, there are clear risks. Another dip in industrial volumes, slower margin gains from new customers, or higher debt costs eating up cash could quickly reverse the first-quarter uptick. If equity-plan bumps are seen as dilution, not retention, that June vote might put pressure on the stock.
The story on the stock is still low-key. Shares are up a bit, there’s a governance vote coming June 30, and people want to see if improved collections and cost cuts will really push sustainable cash through the balance sheet.
