Investigation announced for Investors in shares of HireQuest, Inc. (NASDAQ: HQI) over possible Violations of Securities Laws

An investigation was announced for investors of HireQuest, Inc. (NASDAQ: HQI) shares over potential securities laws violations by HireQuest, Inc..

Investors who purchased shares of HireQuest, Inc. (NASDAQ: HQI), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of HireQuest, Inc. (NASDAQ: HQI) concerning whether a series of statements by HireQuest, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Goose Creek, SC based HireQuest, Inc. provides temporary staffing solutions in the United States. HireQuest, Inc. reported that its annual Total Revenue rose from $22.76 million in 2021 to $30.95 million in 2022 and that its Net Income increased from $11.85 million in 2021 to $12.45 million in 2022.

On November 8, 2023, HireQuest, Inc. announced its financial results for its third quarter ("Q3") of 2023. Among other results, HireQuest reported Q3 GAAP earnings-per-share of $0.12, missing consensus estimates by $0.05. Commenting on these results, HireQuest's President and Chief Executive Officer Rick Hermanns disclosed that "[o]ur bottom line was again negatively impacted by workers compensation expense which had a net increase of $2.8 million compared to [Q3] 2022" and that "[w]e're working with our partners in this area to adjust our plan to better reflect our business as it stands today and reduce its impact in the future, however no meaningful improvement can be expected until the second quarter of next year."

Shares of HireQuest, Inc. (NASDAQ: HQI) declined from $29.38 per share in June 2023 to as low as $12.49 per share on November 13, 2023.

Those who purchased shares of HireQuest, Inc. (NASDAQ: HQI) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.