Quest Resource (NASDAQ:QRHC) Share Price Passes Below Two Hundred Day Moving Average – Time to Sell?

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 trading hands.

Analysts Set New Price Targets

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

Quest Resource Stock Down 5.6%

The company has a market capitalization of $28.23 million, a P/E ratio of -3.94 and a beta of 0.23. The firm’s 50 day moving average price is $1.19 and its two-hundred day moving average price is $1.58. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.64.

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

Institutional Investors Weigh In On Quest Resource

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Greenhaven Road Investment Management L.P. grew its holdings in shares of Quest Resource by 137.2% in the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 30,777 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 17,801 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Quest Resource in the second quarter valued at about $50,000. Jane Street Group LLC raised its holdings in Quest Resource by 91.4% during the fourth quarter. Jane Street Group LLC now owns 27,233 shares of the business services provider’s stock worth $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% 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 acquiring an additional 4,104 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position 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 valued at $135,000 after purchasing an additional 9,647 shares during the last quarter. 48.16% of the stock is owned by 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.