Quest Resource (NASDAQ:QRHC) Shares Break Above Fifty Day Moving Average – Here’s What Happened

Quest Resource Holding Corporation. (NASDAQ:QRHC)’s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $1.40 and traded as high as $1.4299. Quest Resource shares last traded at $1.38, with a volume of 18,621 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on QRHC shares. Weiss Ratings cut Quest Resource from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 29th. Zacks Research upgraded Quest Resource from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Quest Resource Trading Down 0.7%

The firm has a market cap of $29.11 million, a P/E ratio of -1.68 and a beta of 0.15. The stock has a 50 day simple moving average of $1.40 and a 200-day simple moving average of $1.28. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 2.22.

Quest Resource (NASDAQ:QRHC) last posted its earnings results on Thursday, August 6th. The business services provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $64.07 million during the quarter, compared to analysts’ expectations of $63.55 million. Quest Resource had a negative net margin of 7.07% and a negative return on equity of 14.75%. On average, equities research analysts expect that Quest Resource Holding Corporation. will post -0.21 EPS for the current fiscal year.

Institutional Trading of Quest Resource

An institutional investor recently raised its position in Quest Resource stock. Sei Investments Co. increased its stake in Quest Resource Holding Corporation. (NASDAQ:QRHC) by 100.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,670 shares of the business services provider’s stock after acquiring an additional 61,335 shares during the period. Sei Investments Co. owned approximately 0.58% of Quest Resource worth $146,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 48.16% of the company’s stock.

About Quest Resource

Quest Resource Holding Corporation (NASDAQ: QRHC) provides outsourced waste and recycling management services to commercial, industrial and multi-location customers. The company helps businesses manage waste streams, improve recycling and diversion programs, and coordinate service providers through a centralized platform.

Its services may include the collection, transportation, processing and disposal of materials such as solid waste, recyclables, organics, used cooking oil and other byproducts.