Quest Resource (NASDAQ:QRHC) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Shares of 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 $1.29 and traded as high as $1.32. Quest Resource shares last traded at $1.25, with a volume of 12,053 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on QRHC. Zacks Research upgraded Quest Resource from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings downgraded Quest Resource from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 21st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Quest Resource presently has an average rating of “Reduce” and a consensus price target of $2.25.

Quest Resource Stock Performance

The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.64. The company’s fifty day moving average is $1.29 and its 200 day moving average is $1.44. The company has a market cap of $26.34 million, a P/E ratio of -3.68 and a beta of 0.18.

Quest Resource (NASDAQ:QRHC) last posted its quarterly earnings results on Thursday, May 7th. The business services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.06). Quest Resource had a negative return on equity of 12.30% and a negative net margin of 3.00%.The business had revenue of $61.73 million during the quarter, compared to the consensus estimate of $62.21 million. As a group, equities analysts predict that Quest Resource Holding Corporation. will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quest Resource

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Quest Resource by 36.5% during the 4th quarter. Bank of America Corp DE now owns 15,356 shares of the business services provider’s stock valued at $100,000 after acquiring an additional 4,104 shares during the period. Goldman Sachs Group Inc. increased 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 during the period. Jane Street Group LLC lifted its position in Quest Resource by 91.4% in the fourth quarter. Jane Street Group LLC now owns 27,233 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 13,004 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Quest Resource in the second quarter valued at approximately $50,000. Finally, Sei Investments Co. lifted its position in Quest Resource by 100.0% in the first quarter. Sei Investments Co. now owns 122,670 shares of the business services provider’s stock valued at $146,000 after purchasing an additional 61,335 shares during the last quarter. Institutional investors own 48.16% of the company’s stock.

Quest Resource Company Profile

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.