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

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

Wall Street Analyst Weigh In

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

Quest Resource Stock Up 1.6%

The company has a 50 day moving average of $1.29 and a 200-day moving average of $1.44. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.28 and a quick ratio of 1.28. 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 announced its earnings results on Thursday, May 7th. The business services provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). The business had revenue of $61.73 million during the quarter, compared to the consensus estimate of $62.21 million. Quest Resource had a negative return on equity of 12.30% and a negative net margin of 3.00%. On average, equities analysts predict that Quest Resource Holding Corporation. will post -0.22 earnings per share for the current year.

Institutional Investors Weigh In On Quest Resource

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in shares of Quest Resource by 36.5% in the 4th 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 during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Quest Resource by 22.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 51,990 shares of the business services provider’s stock worth $135,000 after acquiring an additional 9,647 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Quest Resource during the 2nd quarter worth $50,000. Jane Street Group LLC purchased a new position in Quest Resource in the second quarter worth $125,000. Finally, Mink Brook Asset Management LLC purchased a new position in Quest Resource in the second quarter worth $405,000. 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.