Quest Resource (NASDAQ:QRHC) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Quest Resource (NASDAQ:QRHC) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday,Zacks.com reports.

Separately, Wall Street Zen upgraded shares of Quest Resource to a “hold” rating in a report on Saturday, January 10th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus price target of $2.25.

Quest Resource Stock Performance

Quest Resource stock opened at $1.18 on Tuesday. The firm has a 50 day simple moving average of $1.66 and a 200-day simple moving average of $1.71. The stock has a market cap of $24.73 million, a price-to-earnings ratio of -1.62 and a beta of 0.25. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.30 and a quick ratio of 1.30. Quest Resource has a 1-year low of $0.81 and a 1-year high of $2.88.

Quest Resource (NASDAQ:QRHC) last released its quarterly earnings data on Friday, March 13th. The business services provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). The business had revenue of $58.91 million during the quarter, compared to analyst estimates of $61.21 million. Quest Resource had a negative net margin of 6.15% and a negative return on equity of 14.18%. On average, analysts expect that Quest Resource will post 0.09 EPS for the current year.

Institutional Investors Weigh In On Quest Resource

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in shares of Quest Resource by 36.5% during the fourth quarter. Bank of America Corp DE now owns 15,356 shares of the business services provider’s stock worth $100,000 after buying an additional 4,104 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of 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 valued at $135,000 after purchasing an additional 9,647 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in shares of Quest Resource by 52.5% in the 2nd quarter. Kennedy Capital Management LLC now owns 311,289 shares of the business services provider’s stock valued at $629,000 after purchasing an additional 107,107 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Quest Resource during the 2nd quarter worth $50,000. Finally, Jane Street Group LLC acquired a new position in shares of Quest Resource during the second quarter worth $125,000. Hedge funds and other institutional investors 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.