Quest Resource (NASDAQ:QRHC) Share Price Passes Below 200-Day Moving Average – Here’s Why

Quest Resource Holding Corporation. (NASDAQ:QRHC)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.59 and traded as low as $1.1814. Quest Resource shares last traded at $1.45, with a volume of 417,456 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on QRHC. Zacks Research cut Quest Resource from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 31st. Weiss Ratings cut Quest Resource from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 21st. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Quest Resource has an average rating of “Sell” and a consensus price target of $2.25.

Quest Resource Stock Up 5.8%

The firm has a fifty day moving average price of $1.18 and a 200-day moving average price of $1.59. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.64. The firm has a market cap of $30.55 million, a price-to-earnings ratio of -4.26 and a beta of 0.23.

Quest Resource (NASDAQ:QRHC) last released its earnings results on Thursday, May 7th. The business services provider reported ($0.09) earnings per share (EPS) 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 company had revenue of $61.74 million during the quarter, compared to analyst estimates of $62.21 million. As a group, sell-side analysts forecast that Quest Resource Holding Corporation. will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings 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 acquiring an additional 61,335 shares during the last quarter. Veradace Capital Management LLC acquired a new position in Quest Resource during the fourth quarter valued at approximately $2,336,000. Rothschild Wealth LLC acquired a new position in Quest Resource during the fourth quarter valued at approximately $274,000. Jane Street Group LLC lifted its position in Quest Resource by 91.4% during the fourth quarter. Jane Street Group LLC now owns 27,233 shares of the business services provider’s stock valued at $51,000 after buying an additional 13,004 shares in the last quarter. Finally, Greenhaven Road Investment Management L.P. lifted its position in Quest Resource by 137.2% during the third quarter. Greenhaven Road Investment Management L.P. now owns 30,777 shares of the business services provider’s stock valued at $48,000 after buying an additional 17,801 shares in the last quarter. Institutional investors and hedge funds own 48.16% of the company’s stock.

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.