Quest Resource Holding Corporation. (NASDAQ:QRHC) Short Interest Down 19.5% in December

Quest Resource Holding Corporation. (NASDAQ:QRHC) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 150,323 shares, a drop of 19.5% from the December 15th total of 186,804 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily trading volume, of 58,184 shares, the short-interest ratio is currently 2.6 days. Based on an average daily trading volume, of 58,184 shares, the short-interest ratio is currently 2.6 days. Currently, 0.9% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on QRHC shares. Wall Street Zen upgraded shares of Quest Resource to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Quest Resource in a research report on Wednesday, October 8th. Finally, Zacks Research raised Quest Resource from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Quest Resource has a consensus rating of “Reduce” and an average target price of $2.25.

Quest Resource Stock Performance

Shares of NASDAQ:QRHC traded down $0.05 during trading on Tuesday, hitting $1.94. The stock had a trading volume of 14,043 shares, compared to its average volume of 41,565. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.56. Quest Resource has a 12-month low of $1.11 and a 12-month high of $6.21. The stock has a market capitalization of $40.47 million, a price-to-earnings ratio of -1.75 and a beta of 0.14. The stock has a 50-day simple moving average of $1.93 and a two-hundred day simple moving average of $1.79.

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

Insider Buying and Selling at Quest Resource

In other Quest Resource news, major shareholder Barry M. Kitt acquired 62,867 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was bought at an average cost of $1.36 per share, with a total value of $85,499.12. Following the completion of the purchase, the insider directly owned 2,692,248 shares in the company, valued at $3,661,457.28. The trade was a 2.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 204,759 shares of company stock valued at $270,127 in the last ninety days. Insiders own 22.91% of the company’s stock.

Institutional Trading of Quest Resource

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in shares of Quest Resource by 36.5% during the 4th quarter. Bank of America Corp DE now owns 15,356 shares of the business services provider’s stock valued at $100,000 after buying an additional 4,104 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Quest Resource during the second quarter valued at $50,000. Greenhaven Road Investment Management L.P. grew its position in shares of Quest Resource by 137.2% in the third quarter. Greenhaven Road Investment Management L.P. now owns 30,777 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 17,801 shares during the period. Connors Investor Services Inc. grew its position in shares of 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 valued at $101,000 after purchasing an additional 10,000 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Quest Resource by 22.8% during the first quarter. Goldman Sachs Group Inc. now owns 51,990 shares of the business services provider’s stock worth $135,000 after purchasing an additional 9,647 shares in the last quarter. 48.16% of the stock is currently owned by hedge funds and other institutional investors.

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.