Quest Resource (NASDAQ:QRHC) Shares Pass Below 200 Day Moving Average - Here's What Happened

Shares of Quest Resource Holding Co. (NASDAQ:QRHC - Get Free Report) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

Separately, StockNews.com raised Quest Resource from a "sell" rating to a "hold" rating in a report on Tuesday, November 19th.

Quest Resource Price Performance

The stock has a market cap of $122.72 million, a price-to-earnings ratio of -16.11, a PEG ratio of 1.02 and a beta of 0.67. The company's 50 day moving average is $6.41 and its 200 day moving average is $7.60. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.52 and a quick ratio of 1.52.

Quest Resource (NASDAQ:QRHC - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.04). The company had revenue of $72.77 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $0.02 earnings per share. Research analysts forecast that Quest Resource Holding Co. will post 0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Quest Resource by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 352,670 shares of the business services provider's stock valued at $2,815,000 after acquiring an additional 3,731 shares during the last quarter. Needham Investment Management LLC purchased a new stake in shares of Quest Resource in the third quarter valued at about $2,793,000. State Street Corp grew its position in shares of Quest Resource by 2.5% in the third quarter. State Street Corp now owns 175,345 shares of the business services provider's stock valued at $1,399,000 after purchasing an additional 4,235 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Quest Resource by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 168,717 shares of the business services provider's stock worth $1,484,000 after purchasing an additional 7,945 shares in the last quarter. Finally, Evernest Financial Advisors LLC acquired a new position in shares of Quest Resource during the 3rd quarter worth approximately $260,000. Hedge funds and other institutional investors 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.