Quest Resource (NASDAQ:QRHC) Upgraded to Hold at Zacks Research

Quest Resource (NASDAQ:QRHC) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings downgraded Quest Resource from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 21st. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $2.25.

Quest Resource Trading Down 1.6%

NASDAQ QRHC opened at $1.25 on Tuesday. The stock has a market capitalization of $26.34 million, a price-to-earnings ratio of -3.68 and a beta of 0.18. Quest Resource has a one year low of $0.81 and a one year high of $2.41. 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 business’s fifty day moving average is $1.24 and its 200-day moving average is $1.50.

Quest Resource (NASDAQ:QRHC) last posted its quarterly earnings results on Thursday, May 7th. The business services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The company had revenue of $61.73 million for the quarter, compared to the consensus estimate of $62.21 million. Quest Resource had a negative net margin of 3.00% and a negative return on equity of 12.30%. Equities research analysts predict that Quest Resource will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Quest Resource

Several institutional investors have recently made changes to their positions in QRHC. Greenhaven Road Investment Management L.P. boosted its holdings in shares of Quest Resource by 137.2% in the third quarter. Greenhaven Road Investment Management L.P. now owns 30,777 shares of the business services provider’s stock worth $48,000 after acquiring an additional 17,801 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Quest Resource during the 2nd quarter worth about $50,000. Jane Street Group LLC boosted its stake in Quest Resource by 91.4% in the 4th quarter. Jane Street Group LLC now owns 27,233 shares of the business services provider’s stock worth $51,000 after purchasing an additional 13,004 shares during the period. Bank of America Corp DE grew its holdings in Quest Resource by 36.5% during the 4th quarter. Bank of America Corp DE now owns 15,356 shares of the business services provider’s stock valued at $100,000 after buying an additional 4,104 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Quest Resource by 22.8% during the first quarter. Goldman Sachs Group Inc. now owns 51,990 shares of the business services provider’s stock valued at $135,000 after buying an additional 9,647 shares during the period. 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.