Quest Resource (NASDAQ:QRHC) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

Quest Resource Holding Corporation. (NASDAQ:QRHC) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.16 and traded as high as $1.2950. Quest Resource shares last traded at $1.28, with a volume of 11,930 shares.

Analysts Set New Price Targets

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

Quest Resource Stock Performance

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 firm has a fifty day moving average price of $1.16 and a 200 day moving average price of $1.61. The firm has a market cap of $26.97 million, a PE ratio of -3.76 and a beta of 0.23.

Quest Resource (NASDAQ:QRHC) last posted its quarterly earnings results on Thursday, May 7th. The business services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). Quest Resource had a negative return on equity of 12.30% and a negative net margin of 3.00%.The company had revenue of $61.74 million for the quarter, compared to analysts’ expectations of $62.21 million. As a group, equities research analysts expect that Quest Resource Holding Corporation. will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Greenhaven Road Investment Management L.P. raised 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 acquiring an additional 17,801 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Quest Resource in the 2nd quarter valued at about $50,000. Jane Street Group LLC raised its holdings 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 valued at $51,000 after buying an additional 13,004 shares during the period. Bank of America Corp DE raised its holdings in 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 valued at $100,000 after buying an additional 4,104 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Quest Resource by 22.8% in the 1st 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.