Quest Resource (NASDAQ:QRHC) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Quest Resource Holding Corporation. (NASDAQ:QRHC)’s stock price passed 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 trading hands.

Wall Street Analyst Weigh In

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

Quest Resource Price Performance

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

Hedge Funds Weigh In On Quest Resource

Several large investors have recently added to or reduced their stakes in the business. Kennedy Capital Management LLC grew its holdings in Quest Resource by 52.5% during the second quarter. Kennedy Capital Management LLC now owns 311,289 shares of the business services provider’s stock worth $629,000 after buying an additional 107,107 shares in the last quarter. Mink Brook Asset Management LLC increased its position in shares of Quest Resource by 52.0% during the third quarter. Mink Brook Asset Management LLC now owns 304,418 shares of the business services provider’s stock valued at $475,000 after acquiring an additional 104,085 shares during the last quarter. Truist Financial Corp grew its stake in Quest Resource by 11.8% in the 3rd quarter. Truist Financial Corp now owns 276,222 shares of the business services provider’s stock valued at $431,000 after purchasing an additional 29,253 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Quest Resource during the 2nd quarter valued at $156,000. Finally, Jane Street Group LLC purchased a new position in shares of Quest Resource in the 2nd quarter worth about $125,000. 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.