Quest Resource (NASDAQ:QRHC) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Quest Resource Holding Corporation. (NASDAQ:QRHC) shares passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.12 and traded as low as $1.11. Quest Resource shares last traded at $1.12, with a volume of 17,675 shares traded.

Analysts Set New Price Targets

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

Quest Resource Stock Performance

The firm has a market capitalization of $23.54 million, a PE ratio of -3.29 and a beta of 0.21. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.64. The business’s 50 day simple moving average is $1.12 and its two-hundred day simple moving average is $1.62.

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 company had revenue of $61.74 million for the quarter, compared to analysts’ expectations of $62.21 million. Quest Resource had a negative net margin of 3.00% and a negative return on equity of 12.30%. Research analysts expect that Quest Resource Holding Corporation. will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quest Resource

A number of hedge funds have recently added to or reduced their stakes in QRHC. Veradace Capital Management LLC purchased a new stake in Quest Resource during the 4th quarter valued at $2,336,000. Mink Brook Asset Management LLC purchased a new stake in Quest Resource during the 2nd quarter valued at $405,000. Rothschild Wealth LLC purchased a new stake in Quest Resource during the 4th quarter valued at $274,000. Jane Street Group LLC purchased a new stake in shares of Quest Resource in the 2nd quarter worth $125,000. Finally, Sei Investments Co. increased its stake in shares of Quest Resource by 100.0% in the 1st quarter. Sei Investments Co. now owns 122,670 shares of the business services provider’s stock worth $146,000 after purchasing an additional 61,335 shares in the last quarter. 48.16% of the stock is currently 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.