Quest Resource (NASDAQ:QRHC) Rating Lowered to Strong Sell at Zacks Research

Quest Resource (NASDAQ:QRHC) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

Separately, Wall Street Zen raised shares of Quest Resource to a “hold” rating in a research report on Saturday, January 10th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Sell” and an average target price of $2.25.

Quest Resource Price Performance

Shares of QRHC opened at $1.19 on Tuesday. The business’s fifty day moving average is $1.68 and its 200 day moving average is $1.71. Quest Resource has a 12-month low of $0.81 and a 12-month high of $2.88. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.58. The stock has a market cap of $24.94 million, a P/E ratio of -1.63 and a beta of 0.17.

Quest Resource (NASDAQ:QRHC) last announced its quarterly earnings results on Friday, March 13th. The business services provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Quest Resource had a negative net margin of 6.15% and a negative return on equity of 14.18%. The business had revenue of $58.91 million for the quarter, compared to the consensus estimate of $61.21 million. Sell-side analysts anticipate that Quest Resource will post 0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quest Resource

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Greenhaven Road Investment Management L.P. lifted 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 acquiring an additional 17,801 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Quest Resource during the 2nd quarter worth $50,000. Jane Street Group LLC grew its stake in shares of Quest Resource by 91.4% in the 4th quarter. Jane Street Group LLC now owns 27,233 shares of the business services provider’s stock worth $51,000 after acquiring an additional 13,004 shares in the last quarter. Bank of America Corp DE raised its holdings 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 valued at $100,000 after purchasing an additional 4,104 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Quest Resource by 22.8% in the first quarter. Goldman Sachs Group Inc. now owns 51,990 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 9,647 shares during the last quarter. 48.16% of the stock is owned by hedge funds and other institutional investors.

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.