Quest Resource (NASDAQ:QRHC) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Quest Resource (NASDAQ:QRHC) from a strong sell rating to a hold rating in a research report released on Tuesday,Zacks.com reports.

Separately, Weiss Ratings lowered Quest Resource from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 21st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $2.25.

Quest Resource Stock Performance

NASDAQ:QRHC opened at $1.25 on Tuesday. The company’s 50-day moving average is $1.24 and its two-hundred day moving average is $1.50. Quest Resource has a 1-year low of $0.81 and a 1-year high of $2.41. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market capitalization of $26.34 million, a price-to-earnings ratio of -3.68 and a beta of 0.18.

Quest Resource (NASDAQ:QRHC) last released its quarterly earnings results on Thursday, May 7th. The business services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The firm had revenue of $61.73 million for the quarter, compared to analysts’ expectations of $62.21 million. Quest Resource had a negative net margin of 3.00% and a negative return on equity of 12.30%. Analysts forecast that Quest Resource will post -0.22 EPS for the current year.

Institutional Trading of Quest Resource

Hedge funds have recently modified their holdings of the stock. Greenhaven Road Investment Management L.P. increased its holdings 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 worth $48,000 after purchasing an additional 17,801 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Quest Resource during the second quarter worth about $50,000. Jane Street Group LLC increased its stake in shares of Quest Resource by 91.4% during the fourth quarter. Jane Street Group LLC now owns 27,233 shares of the business services provider’s stock worth $51,000 after buying an additional 13,004 shares during the period. Bank of America Corp DE increased its stake in shares of Quest Resource by 36.5% during the fourth quarter. Bank of America Corp DE now owns 15,356 shares of the business services provider’s stock worth $100,000 after buying an additional 4,104 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in 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 acquiring an additional 9,647 shares in the last quarter. 48.16% of the stock is currently owned by institutional investors and hedge funds.

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.