Quest Resource (NASDAQ:QRHC) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Quest Resource Holding Corporation. (NASDAQ:QRHC) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.06 and traded as high as $2.11. Quest Resource shares last traded at $1.96, with a volume of 9,121 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Quest Resource to a “hold” rating in a research note on Saturday, January 10th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Quest Resource currently has a consensus rating of “Reduce” and an average target price of $2.25.

Quest Resource Stock Performance

The company’s 50-day moving average price is $2.06 and its two-hundred day moving average price is $1.79. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market cap of $40.91 million, a PE ratio of -1.77 and a beta of 0.16.

Institutional Investors Weigh In On Quest Resource

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Connors Investor Services Inc. increased its stake in shares of Quest Resource by 25.0% during the second quarter. Connors Investor Services Inc. now owns 50,026 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 10,000 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Quest Resource in the second quarter worth $156,000. Mink Brook Asset Management LLC purchased a new stake in shares of Quest Resource in the second quarter worth $405,000. Jane Street Group LLC bought a new position in shares of Quest Resource during the second quarter valued at $125,000. Finally, Goldman Sachs Group Inc. boosted its stake in Quest Resource by 22.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 51,990 shares of the business services provider’s stock worth $135,000 after purchasing an additional 9,647 shares in the last quarter. 48.16% of the stock is owned by hedge funds and other institutional investors.

About Quest Resource

Quest Resource Holding Corporation, together with its subsidiaries, provides solutions for the reuse, recycling, and disposal of various waste streams and recyclables in the United States. The company provides disposal and recycling services for motor oil and automotive lubricants, oil filters, scrap tires, oily water, goods destruction, food waste, meat renderings, cooking oil and grease trap waste, plastics, cardboard, metal, glass, mixed paper, construction debris, as well as a large variety of regulated and non-regulated solid, liquid, and gas wastes.