Should You Consider Investing in HireQuest (HQI)?

Artko Capital, an asset management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. For the first calendar quarter of 2022, an average partnership interest in Artko Capital LP was down 11.4% net of fees. At the same time, investments in the most comparable market indexes—Russell 2000, Russell Microcap, and the S&P 500—were down 7.5%, 7.6%, and 4.6% respectively. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Artko Capital mentioned HireQuest, Inc. (NASDAQ:HQI) and explained its insights for the company. Founded in 2022, HireQuest, Inc. (NASDAQ:HQI) is a South Carolina-based temporary staffing solutions provider with a $169.4 million market capitalization. HireQuest, Inc. (NASDAQ:HQI) delivered a -39.04% return since the beginning of the year, while its 12-month returns are down by -41.70%. The stock closed at $12.29 per share on June 20, 2022.

Here is what Artko Capital has to say about HireQuest, Inc. (NASDAQ:HQI) in its Q1 2022 investor letter:

“Our investment in GOED, a high growth appliance e-commerce company, is very reminiscent of our investment in HireQuest (NASDAQ:HQI) where a large, successful private company merged with a substantially smaller and underperforming but public competitor. In the case of HQI, it merged with a $20mm market cap competitor Command Center and it took a while for the market to realize that the new company is a Free Cash Flow (FCF) generating machine led by an industry veteran and it was no longer the company represented by its historical numbers.”

Our calculations show that HireQuest, Inc. (NASDAQ:HQI) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. HireQuest, Inc. (NASDAQ:HQI) was in 3 hedge fund portfolios at the end of the first quarter of 2022, compared to 1 fund in the previous quarter. HireQuest, Inc. (NASDAQ:HQI) delivered a -34.24% return in the past 3 months.

In June 2022, we also shared another hedge fund’s views on HireQuest, Inc. (NASDAQ:HQI) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.