Quest Resource (NASDAQ:QRHC) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Quest Resource Holding Co. (NASDAQ:QRHC)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.61 and traded as low as $5.71. Quest Resource shares last traded at $5.80, with a volume of 30,439 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Quest Resource from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th.

Quest Resource Price Performance

The company has a debt-to-equity ratio of 1.15, a current ratio of 1.52 and a quick ratio of 1.52. The business’s 50 day moving average price is $6.44 and its 200 day moving average price is $7.61. The stock has a market capitalization of $119.41 million, a P/E ratio of -15.68, a price-to-earnings-growth ratio of 1.02 and a beta of 0.67.

Quest Resource (NASDAQ:QRHC) last posted its earnings results on Thursday, November 7th. The business services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The firm had revenue of $72.77 million during the quarter, compared to the consensus estimate of $77.03 million. Quest Resource had a negative net margin of 2.74% and a positive return on equity of 3.11%. During the same period in the prior year, the company posted $0.02 EPS. Sell-side analysts forecast that Quest Resource Holding Co. will post 0.09 EPS for the current year.

Hedge Funds Weigh In On Quest Resource

A number of institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its position in shares of Quest Resource by 62.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,063 shares of the business services provider’s stock valued at $80,000 after purchasing an additional 3,850 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Quest Resource by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 10,285 shares of the business services provider’s stock worth $82,000 after purchasing an additional 5,795 shares during the period. Jane Street Group LLC purchased a new stake in Quest Resource in the 3rd quarter worth about $116,000. GSA Capital Partners LLP purchased a new position in Quest Resource during the 3rd quarter valued at $148,000. Finally, Avanza Fonder AB bought a new stake in Quest Resource during the 4th quarter valued at about $150,000. 48.16% of the stock is owned by institutional investors.

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.