Quest Resource (NASDAQ:QRHC) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Quest Resource Holding Corporation. (NASDAQ:QRHC)’s stock price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $1.12 and traded as low as $1.11. Quest Resource shares last traded at $1.12, with a volume of 17,675 shares.

Analyst Upgrades and Downgrades

QRHC has been the subject of several analyst reports. Zacks Research lowered Quest Resource from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 31st. Weiss Ratings lowered 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 given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus target price of $2.25.

Quest Resource Price 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 market cap of $23.54 million, a PE ratio of -3.29 and a beta of 0.21. The stock has a 50 day simple moving average of $1.12 and a 200-day simple moving average of $1.62.

Quest Resource (NASDAQ:QRHC) last issued its quarterly earnings results 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 return on equity of 12.30% and a negative net margin of 3.00%.The business had revenue of $61.74 million during the quarter, compared to analysts’ expectations of $62.21 million. Equities analysts anticipate that Quest Resource Holding Corporation. will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quest Resource

Institutional investors have recently bought and sold shares of the business. Greenhaven Road Investment Management L.P. increased its stake in 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 worth $48,000 after buying an additional 17,801 shares in the last quarter. Veradace Capital Management LLC purchased a new stake in Quest Resource in the 4th quarter worth $2,336,000. Mink Brook Asset Management LLC purchased a new stake in Quest Resource in the 2nd quarter worth $405,000. Rothschild Wealth LLC purchased a new stake in Quest Resource in the 4th quarter worth $274,000. Finally, Goldman Sachs Group Inc. increased its stake 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 worth $135,000 after buying an additional 9,647 shares in the last quarter. 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.