Quest Resource Holding Corporation. (NASDAQ:QRHC) Sees Significant Drop in Short Interest

Quest Resource Holding Corporation. (NASDAQ:QRHC) saw a significant decline in short interest in April. As of April 30th, there was short interest totaling 51,853 shares, a decline of 34.3% from the April 15th total of 78,974 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 48,717 shares, the short-interest ratio is presently 1.1 days.

Hedge Funds Weigh In On Quest Resource

Several hedge funds have recently modified their holdings of QRHC. Bank of America Corp DE grew its holdings in shares of Quest Resource by 36.5% in 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 acquiring an additional 4,104 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Quest Resource by 22.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 51,990 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 9,647 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Quest Resource in the 2nd quarter valued at about $50,000. Jane Street Group LLC bought a new position in shares of Quest Resource in the 2nd quarter valued at about $125,000. Finally, Mink Brook Asset Management LLC bought a new position in shares of Quest Resource in the 2nd quarter valued at about $405,000. Institutional investors own 48.16% of the company’s stock.

Quest Resource Stock Up 5.6%

NASDAQ:QRHC opened at $1.14 on Wednesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market cap of $23.95 million, a PE ratio of -3.35 and a beta of 0.21. Quest Resource has a 52-week low of $0.81 and a 52-week high of $2.49. The stock has a 50-day simple moving average of $1.15 and a 200 day simple moving average of $1.63.

Quest Resource (NASDAQ:QRHC) last posted its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). The firm had revenue of $61.74 million for the quarter, compared to the consensus estimate of $62.21 million. Quest Resource had a negative return on equity of 12.30% and a negative net margin of 3.00%. On average, sell-side analysts expect that Quest Resource will post -0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on QRHC shares. Weiss Ratings upgraded Quest Resource from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Zacks Research downgraded Quest Resource from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Quest Resource currently has a consensus rating of “Sell” and an average target price of $2.25.

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.