Quest Resource (NASDAQ:QRHC) Stock Crosses Below 200 Day Moving Average – What’s Next?

Quest Resource Holding Corporation. (NASDAQ:QRHC) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.86 and traded as low as $1.70. Quest Resource shares last traded at $1.82, with a volume of 80,615 shares trading hands.

Wall Street Analysts Forecast Growth

QRHC has been the topic of a number of research reports. Northland Securities lowered shares of Quest Resource from an “outperform” rating to a “market perform” rating and set a $2.25 price objective on the stock. in a research note on Tuesday, August 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quest Resource in a report on Wednesday, October 8th. Zacks Research upgraded Quest Resource from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Northland Capmk downgraded Quest Resource from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen lowered Quest Resource from a “hold” rating to a “sell” rating in a report on Sunday, August 3rd. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $2.25.

Quest Resource Stock Up 5.2%

The business has a 50-day moving average price of $1.49 and a 200-day moving average price of $1.86. The stock has a market cap of $37.98 million, a PE ratio of -1.64 and a beta of 0.24. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.56.

Quest Resource (NASDAQ:QRHC) last posted its quarterly earnings data on Monday, November 10th. The business services provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). Quest Resource had a negative return on equity of 12.96% and a negative net margin of 8.89%.The company had revenue of $63.34 million for the quarter, compared to analyst estimates of $59.83 million. As a group, analysts forecast that Quest Resource Holding Corporation. will post 0.09 earnings per share for the current year.

Insider Buying and Selling at Quest Resource

In other news, major shareholder Barry M. Kitt purchased 103,412 shares of the stock in a transaction dated Thursday, October 23rd. The shares were purchased at an average cost of $1.26 per share, with a total value of $130,299.12. Following the completion of the purchase, the insider directly owned 2,595,901 shares of the company’s stock, valued at approximately $3,270,835.26. The trade was a 4.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders purchased a total of 203,759 shares of company stock valued at $267,607 in the last quarter. Company insiders own 22.91% of the company’s stock.

Hedge Funds Weigh In On Quest Resource

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its position in 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 buying an additional 4,104 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in 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 worth $135,000 after purchasing an additional 9,647 shares during the period. Connors Investor Services Inc. increased its stake in Quest Resource by 25.0% during the 2nd quarter. Connors Investor Services Inc. now owns 50,026 shares of the business services provider’s stock worth $101,000 after buying an additional 10,000 shares during the period. XTX Topco Ltd purchased a new stake in shares of Quest Resource during the first quarter worth $27,000. Finally, Cresset Asset Management LLC acquired a new stake in Quest Resource in the 1st quarter valued at about $43,000. 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.