Quest Resource (NASDAQ:QRHC) Rating Lowered to Sell at StockNews.com

Quest Resource (NASDAQ:QRHC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Quest Resource Stock Down 30.4 %

NASDAQ:QRHC traded down $1.17 during trading hours on Thursday, hitting $2.68. The company’s stock had a trading volume of 711,183 shares, compared to its average volume of 65,526. The stock has a market capitalization of $55.18 million, a P/E ratio of -7.24, a price-to-earnings-growth ratio of 0.76 and a beta of 0.66. The stock has a fifty day moving average of $5.19 and a 200-day moving average of $6.82. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.15. Quest Resource has a 52-week low of $2.61 and a 52-week high of $10.85.

Quest Resource (NASDAQ:QRHC) last posted its earnings results on Wednesday, March 12th. The business services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business had revenue of $69.97 million during 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%. On average, equities analysts forecast that Quest Resource will post 0.09 earnings per share for the current year.

Hedge Funds Weigh In On Quest Resource

Several large investors have recently bought and sold shares of QRHC. GSA Capital Partners LLP purchased a new position in Quest Resource in the third quarter valued at $148,000. BNP Paribas Financial Markets boosted its stake in 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 valued at $80,000 after acquiring an additional 3,850 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Quest Resource by 129.1% in the third quarter. MetLife Investment Management LLC now owns 10,285 shares of the business services provider’s stock valued at $82,000 after acquiring an additional 5,795 shares in the last quarter. Needham Investment Management LLC acquired a new position in Quest Resource in the third quarter valued at $2,793,000. Finally, State Street Corp boosted its stake in 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 acquiring an additional 4,235 shares in the last quarter. 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.