Quest Resource (NASDAQ:QRHC) Shares Pass Below Two Hundred Day Moving Average - Here's What Happened

Shares of Quest Resource Holding Co. (NASDAQ:QRHC - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.44 and traded as low as $2.77. Quest Resource shares last traded at $2.80, with a volume of 54,327 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Northland Securities set a $6.50 price objective on Quest Resource in a research report on Thursday, March 13th. StockNews.com downgraded shares of Quest Resource from a "hold" rating to a "sell" rating in a report on Thursday, March 13th.

Quest Resource Stock Down 2.9 %

The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.15. The business has a 50-day simple moving average of $4.50 and a 200-day simple moving average of $6.35. The company has a market cap of $55.43 million, a PE ratio of -7.27, a P/E/G ratio of 0.76 and a beta of 0.66.

Quest Resource (NASDAQ:QRHC - Get Free Report) last announced its earnings results on Wednesday, March 12th. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.03). The business had revenue of $69.97 million for the quarter, compared to analysts' expectations of $73.63 million. Quest Resource had a negative net margin of 2.74% and a positive return on equity of 3.11%. Equities research analysts anticipate that Quest Resource Holding Co. will post 0.09 EPS for the current year.

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Insider Transactions at Quest Resource

In other news, CEO Perry W. Moss acquired 16,338 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average cost of $3.01 per share, for a total transaction of $49,177.38. Following the acquisition, the chief executive officer now owns 257,933 shares in the company, valued at approximately $776,378.33. This represents a 6.76 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 23,912 shares of company stock valued at $71,046 over the last 90 days. Corporate insiders own 22.84% of the company's stock.

Hedge Funds Weigh In On Quest Resource

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in Quest Resource by 53.3% in the 4th quarter. Wells Fargo & Company MN now owns 8,143 shares of the business services provider's stock valued at $53,000 after purchasing an additional 2,830 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Quest Resource by 2.3% during the fourth quarter. Northern Trust Corp now owns 130,296 shares of the business services provider's stock worth $847,000 after buying an additional 2,881 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Quest Resource by 1.1% in the third quarter. Geode Capital Management LLC now owns 352,670 shares of the business services provider's stock valued at $2,815,000 after buying an additional 3,731 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Quest Resource by 62.0% in the third quarter. BNP Paribas Financial Markets now owns 10,063 shares of the business services provider's stock worth $80,000 after buying an additional 3,850 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in 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 acquiring an additional 4,104 shares during the last quarter. 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.