Quest Resource Holding Corporation. (NASDAQ:QRHC) Short Interest Update

Quest Resource Holding Corporation. (NASDAQ:QRHC) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totaling 186,804 shares, a decline of 32.6% from the November 30th total of 277,289 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 103,204 shares, the days-to-cover ratio is presently 1.8 days. Based on an average daily trading volume, of 103,204 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.2% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on QRHC shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quest Resource in a report on Wednesday, October 8th. Zacks Research raised Quest Resource from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Quest Resource presently has an average rating of “Reduce” and an average price target of $2.25.

Insider Activity

In related news, major shareholder Barry M. Kitt bought 103,412 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The shares were purchased at an average cost of $1.26 per share, with a total value of $130,299.12. Following the transaction, the insider directly owned 2,595,901 shares of the company’s stock, valued at approximately $3,270,835.26. This represents a 4.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have acquired 199,759 shares of company stock valued at $260,327. Corporate insiders own 22.91% of the company’s stock.

Institutional Investors Weigh In On Quest Resource

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised 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 acquiring an additional 4,104 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Quest Resource during the first quarter valued at about $60,000. Qube Research & Technologies Ltd bought a new position in Quest Resource during the 2nd quarter valued at $50,000. Greenhaven Road Investment Management L.P. increased its holdings in shares of Quest Resource by 137.2% in the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 30,777 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 17,801 shares during the last quarter. Finally, Connors Investor Services Inc. lifted its holdings in Quest Resource by 25.0% in the second quarter. Connors Investor Services Inc. now owns 50,026 shares of the business services provider’s stock worth $101,000 after acquiring an additional 10,000 shares during the last quarter. 48.16% of the stock is currently owned by institutional investors and hedge funds.

Quest Resource Stock Performance

QRHC traded down $0.05 during trading on Monday, hitting $1.92. The stock had a trading volume of 28,340 shares, compared to its average volume of 178,552. The firm has a market capitalization of $40.15 million, a P/E ratio of -1.73 and a beta of 0.16. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.32 and a current ratio of 1.32. Quest Resource has a twelve month low of $1.11 and a twelve month high of $6.75. The company’s 50-day moving average price is $1.76 and its 200 day moving average price is $1.81.

Quest Resource (NASDAQ:QRHC) last issued its quarterly earnings results on Monday, November 10th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). Quest Resource had a negative return on equity of 12.96% and a negative net margin of 8.89%.The firm had revenue of $63.34 million for the quarter, compared to analyst estimates of $59.83 million. On average, equities research analysts forecast that Quest Resource will post 0.09 EPS for the current fiscal year.

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.