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

Shares of Quest Resource Holding Corporation. (NASDAQ:QRHC) crossed below its 200-day moving average during trading on Friday . The stock has a 200-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 traded.

Analysts Set New Price Targets

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

Quest Resource Stock Performance

The company has a fifty day moving average price of $1.49 and a two-hundred day moving average price of $1.86. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market capitalization of $37.98 million, a P/E ratio of -1.64 and a beta of 0.24.

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). The company had revenue of $63.34 million during the quarter, compared to analyst estimates of $59.83 million. Quest Resource had a negative net margin of 8.89% and a negative return on equity of 12.96%. Equities analysts forecast that Quest Resource Holding Corporation. will post 0.09 earnings per share for the current fiscal year.

Insider Transactions at Quest Resource

In other news, major shareholder Barry M. Kitt purchased 103,412 shares of the company’s stock in a transaction dated Thursday, October 23rd. The shares were purchased at an average price of $1.26 per share, for a total transaction of $130,299.12. Following the transaction, the insider owned 2,595,901 shares of the company’s stock, valued at approximately $3,270,835.26. This trade represents a 4.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have purchased 203,759 shares of company stock worth $267,607. 22.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Quest Resource

Several hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in Quest Resource during the first quarter valued at $27,000. Cresset Asset Management LLC bought a new stake in shares of Quest Resource during the 1st quarter valued at about $43,000. Qube Research & Technologies Ltd acquired a new stake in Quest Resource during the second quarter worth approximately $50,000. Nuveen LLC bought a new stake in Quest Resource in the first quarter worth approximately $60,000. Finally, Bank of America Corp DE lifted its stake 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 buying an additional 4,104 shares during the period. Institutional investors and hedge funds own 48.16% of the company’s stock.

Quest Resource Company Profile

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.