Quest Resource (NASDAQ:QRHC) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Shares of Quest Resource Holding Corporation. (NASDAQ:QRHC) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.73 and traded as low as $1.20. Quest Resource shares last traded at $1.20, with a volume of 97,653 shares trading hands.

Analysts Set New Price Targets

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

Quest Resource Price Performance

The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.58. The company has a 50 day moving average price of $1.75 and a 200 day moving average price of $1.72. The company has a market capitalization of $24.73 million, a P/E ratio of -1.62 and a beta of 0.17.

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

Institutional Trading of Quest Resource

A number of hedge funds have recently modified their holdings of the stock. Greenhaven Road Investment Management L.P. boosted its holdings in shares of Quest Resource by 137.2% during the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 30,777 shares of the business services provider’s stock worth $48,000 after buying an additional 17,801 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Quest Resource during the second quarter worth approximately $50,000. Jane Street Group LLC boosted its holdings in shares of 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 worth $51,000 after acquiring an additional 13,004 shares during the period. Bank of America Corp DE boosted its holdings 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 acquiring an additional 4,104 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Quest Resource by 22.8% in the first 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. Institutional investors and hedge funds 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.