Quest Resource (NASDAQ:QRHC) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Quest Resource Holding Co. (NASDAQ:QRHC) 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 trading hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. StockNews.com cut Quest Resource from a “hold” rating to a “sell” rating in a report on Thursday, March 13th. Northland Securities set a $6.50 price target on shares of Quest Resource in a research note on Thursday, March 13th.

Quest Resource Price Performance

The firm has a market capitalization of $57.70 million, a P/E ratio of -7.57, a price-to-earnings-growth ratio of 0.76 and a beta of 0.66. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average price of $4.63 and a 200-day moving average price of $6.44.

Quest Resource (NASDAQ:QRHC) last issued its quarterly 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). Quest Resource had a positive return on equity of 3.11% and a negative net margin of 2.74%. The company had revenue of $69.97 million during the quarter, compared to the consensus estimate of $73.63 million. On average, analysts expect that Quest Resource Holding Co. will post 0.09 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Perry W. Moss acquired 16,338 shares of Quest Resource stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average cost of $3.01 per share, with a total value of $49,177.38. Following the transaction, the chief executive officer now directly owns 257,933 shares of the company’s stock, valued at $776,378.33. This trade represents a 6.76 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders bought 23,912 shares of company stock valued at $71,046. Company insiders own 22.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN lifted its stake in shares of Quest Resource by 53.3% during the 4th quarter. Wells Fargo & Company MN now owns 8,143 shares of the business services provider’s stock worth $53,000 after acquiring an additional 2,830 shares during the last quarter. Northern Trust Corp increased its stake in Quest Resource by 2.3% in the fourth quarter. Northern Trust Corp now owns 130,296 shares of the business services provider’s stock worth $847,000 after purchasing an additional 2,881 shares during the period. Geode Capital Management LLC lifted its position in shares of Quest Resource by 1.1% during the third quarter. Geode Capital Management LLC now owns 352,670 shares of the business services provider’s stock worth $2,815,000 after purchasing an additional 3,731 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Quest Resource by 62.0% during the third 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. Finally, Bank of America Corp DE grew its holdings in shares of Quest Resource by 36.5% in the fourth quarter. Bank of America Corp DE now owns 15,356 shares of the business services provider’s stock worth $100,000 after purchasing an additional 4,104 shares during the last quarter. 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.