Zacks Research Upgrades Quest Resource (NASDAQ:QRHC) to Hold

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

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

Quest Resource Stock Performance

Shares of QRHC opened at $1.25 on Tuesday. The company’s 50 day simple moving average is $1.24 and its 200-day simple moving average is $1.50. The firm has a market cap of $26.34 million, a PE ratio of -3.68 and a beta of 0.18. Quest Resource has a 12-month low of $0.81 and a 12-month high of $2.41. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.64.

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 business had revenue of $61.73 million during 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%. As a group, equities analysts predict that Quest Resource will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Quest Resource

A number of hedge funds have recently added to or reduced their stakes in the company. Greenhaven Road Investment Management L.P. boosted its holdings in Quest Resource by 137.2% in 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 in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Quest Resource during the 2nd quarter worth approximately $50,000. Jane Street Group LLC raised its stake in shares of Quest Resource by 91.4% during the 4th 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 in the last quarter. Bank of America Corp DE lifted its holdings in shares of Quest Resource by 36.5% in the 4th quarter. Bank of America Corp DE now owns 15,356 shares of the business services provider’s stock valued at $100,000 after buying an additional 4,104 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 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 valued at $135,000 after buying an additional 9,647 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.