Quark president and CEO Farhad Fred Ebrahimi has increased his nut holdings.
Ebrahimi and his family together own 10.5 per cent of the world's largest macadamia nut-growing company Macadamia Orchards, which trades on the New York Stock Exchange under the symbol NUT. The nuts are marketed under the Mauna Loa brand name.
A local report in the Honolulu Star, titled "Mac nut investor increases stake" states that the Ebrahimi family owns 788,500 of Macadamia Orchard's 7.5 million outstanding shares, and says Quark's CEO acquired 7,500 new shares in the company last week, quoting the US SEC.
Ebrahimi has a tight hold on his macadamia nuts. Macadamia Orchards harvests 4,169 acres of orchards on Hawaii, and that island provides 70 per cent of world macadamia nut production.
Ebrahimi's nuts originally come from Australia, though that country's slice of the market for the premium-priced snack has fallen, as harvests there have been afflicted by changing weather patterns in recent years.
The company reported a second quarter net loss of $185,000 on revenues of $1.1 million. The second quarter marks the end of the harvest season.