Quest Resource (NASDAQ:QRHC) Share Price Passes Below 200-Day Moving Average – Here’s Why

Quest Resource Holding Corporation. (NASDAQ:QRHC) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.59 and traded as low as $1.1814. Quest Resource shares last traded at $1.45, with a volume of 417,456 shares traded.

Analysts Set New Price Targets

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

Quest Resource Trading Up 5.8%

The business’s 50-day moving average price is $1.18 and its 200 day moving average price is $1.59. 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 firm has a market capitalization of $30.55 million, a price-to-earnings ratio of -4.26 and a beta of 0.23.

Quest Resource (NASDAQ:QRHC) last posted its earnings results on Thursday, May 7th. The business services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $61.74 million for the quarter, compared to analyst estimates of $62.21 million. On average, equities analysts forecast that Quest Resource Holding Corporation. will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of QRHC. Greenhaven Road Investment Management L.P. lifted its stake 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 in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Quest Resource in the second quarter valued at $50,000. Jane Street Group LLC raised its holdings in Quest Resource by 91.4% in the fourth quarter. Jane Street Group LLC now owns 27,233 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 13,004 shares in the last quarter. Bank of America Corp DE raised its holdings in Quest Resource by 36.5% in the fourth quarter. Bank of America Corp DE now owns 15,356 shares of the business services provider’s stock valued at $100,000 after acquiring an additional 4,104 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in 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 acquiring an additional 9,647 shares in the last quarter. Institutional investors and hedge funds 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.