Quest Resource (NASDAQ:QRHC) Share Price Crosses Below 50-Day Moving Average – What’s Next?

Quest Resource Holding Co. (NASDAQ:QRHC) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $8.41 and traded as low as $8.08. Quest Resource shares last traded at $8.20, with a volume of 29,807 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on QRHC shares. Craig Hallum reduced their price target on Quest Resource from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Northland Capmk upgraded Quest Resource to a “strong-buy” rating in a report on Tuesday, September 17th. Northland Securities began coverage on shares of Quest Resource in a report on Tuesday, September 17th. They issued an “outperform” rating and a $12.50 price target on the stock. Finally, StockNews.com upgraded shares of Quest Resource from a “sell” rating to a “hold” rating in a report on Friday, September 6th.

Quest Resource Trading Down 1.8 %

The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.08. The company has a market cap of $166.09 million, a PE ratio of -29.29, a PEG ratio of 1.96 and a beta of 0.65. The stock has a 50 day moving average price of $8.41 and a 200 day moving average price of $8.80.

Quest Resource (NASDAQ:QRHC) last announced its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.06). The firm had revenue of $73.15 million for the quarter, compared to analysts’ expectations of $76.50 million. Quest Resource had a negative net margin of 2.29% and a positive return on equity of 5.61%. Sell-side analysts predict that Quest Resource Holding Co. will post 0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO David P. Sweitzer sold 22,593 shares of Quest Resource stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $8.00, for a total transaction of $180,744.00. Following the completion of the transaction, the chief operating officer now directly owns 8,511 shares in the company, valued at approximately $68,088. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 22.84% of the company’s stock.

Hedge Funds Weigh In On Quest Resource

Several large investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC purchased a new stake in Quest Resource during the 2nd quarter valued at about $34,000. Rhumbline Advisers bought a new stake in shares of Quest Resource during the second quarter valued at approximately $145,000. Russell Investments Group Ltd. raised its holdings in Quest Resource by 453.5% in the 1st quarter. Russell Investments Group Ltd. now owns 18,448 shares of the business services provider’s stock worth $158,000 after acquiring an additional 15,115 shares during the last quarter. Privium Fund Management B.V. boosted its stake in Quest Resource by 72.6% during the 2nd quarter. Privium Fund Management B.V. now owns 18,900 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 7,950 shares during the last quarter. Finally, Evernest Financial Advisors LLC bought a new stake in shares of Quest Resource in the 3rd quarter worth $260,000. Hedge funds and other institutional investors 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.