Quest Resource (NASDAQ:QRHC) Shares Pass Above 50 Day Moving Average – Time to Sell?

Quest Resource Holding Corporation. (NASDAQ:QRHC) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $1.69 and traded as high as $2.26. Quest Resource shares last traded at $2.10, with a volume of 82,648 shares.

Wall Street Analyst Weigh In

Several research firms recently commented on QRHC. Weiss Ratings restated a “sell (e+)” rating on shares of Quest Resource in a research report on Wednesday, October 8th. Zacks Research raised Quest Resource from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $2.25.

Quest Resource Stock Performance

The stock has a market cap of $43.83 million, a P/E ratio of -1.89 and a beta of 0.16. 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 fifty day moving average of $1.69 and a 200 day moving average of $1.82.

Quest Resource (NASDAQ:QRHC) last issued its quarterly earnings results on Monday, November 10th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.03). Quest Resource had a negative net margin of 8.89% and a negative return on equity of 12.96%. The firm had revenue of $63.34 million for the quarter, compared to analyst estimates of $59.83 million. On average, equities analysts predict that Quest Resource Holding Corporation. will post 0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Quest Resource news, major shareholder Barry M. Kitt acquired 62,867 shares of Quest Resource stock in a transaction dated Monday, October 27th. The stock was bought at an average price of $1.36 per share, for a total transaction of $85,499.12. Following the transaction, the insider owned 2,692,248 shares in the company, valued at approximately $3,661,457.28. This trade represents a 2.39% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have bought 199,759 shares of company stock valued at $260,327. 22.91% of the stock is currently owned by corporate insiders.

Institutional Trading of Quest Resource

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in shares of 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 worth $100,000 after acquiring an additional 4,104 shares in the last quarter. Goldman Sachs Group Inc. boosted 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 purchasing an additional 9,647 shares during the period. Connors Investor Services Inc. grew its position in Quest Resource by 25.0% during the 2nd quarter. Connors Investor Services Inc. now owns 50,026 shares of the business services provider’s stock worth $101,000 after purchasing an additional 10,000 shares in the last quarter. Cresset Asset Management LLC purchased a new position in Quest Resource during the 1st quarter worth approximately $43,000. Finally, Greenhaven Road Investment Management L.P. raised its stake in 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 valued at $48,000 after purchasing an additional 17,801 shares during the period. 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.