Geode Capital Management LLC Grows Stake in Quest Resource Holding Co. (NASDAQ:QRHC)

Geode Capital Management LLC raised its position in shares of Quest Resource Holding Co. (NASDAQ:QRHC) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 352,670 shares of the business services provider’s stock after purchasing an additional 3,731 shares during the period. Geode Capital Management LLC’s holdings in Quest Resource were worth $2,815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Needham Investment Management LLC purchased a new stake in Quest Resource in the third quarter worth about $2,793,000. State Street Corp raised its holdings in shares of Quest Resource by 2.5% in the 3rd 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Quest Resource by 4.9% in 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 during the period. Bank of New York Mellon Corp bought a new position in shares of Quest Resource during the second quarter valued at approximately $406,000. Finally, Evernest Financial Advisors LLC purchased a new position in Quest Resource during the third quarter valued at approximately $260,000. 48.16% of the stock is currently owned by hedge funds and other institutional investors.

Quest Resource Stock Performance

Shares of QRHC opened at $6.15 on Wednesday. The stock has a 50-day moving average of $6.90 and a two-hundred day moving average of $7.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a market cap of $126.62 million, a P/E ratio of -16.62, a P/E/G ratio of 4.97 and a beta of 0.67. Quest Resource Holding Co. has a one year low of $5.80 and a one year high of $10.85.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on QRHC shares. Northland Capmk raised Quest Resource to a “strong-buy” rating in a research report on Tuesday, September 17th. Northland Securities initiated coverage on Quest Resource in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $12.50 target price on the stock. Finally, StockNews.com raised Quest Resource from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th.

Quest Resource 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.