Quest Resource Holding Corporation. (NASDAQ:QRHC) Short Interest Down 32.6% in December

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

Insider Buying and Selling

In other Quest Resource news, major shareholder Barry M. Kitt acquired 62,867 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was purchased at an average price 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 approximately $3,661,457.28. The trade was a 2.39% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 199,759 shares of company stock worth $260,327 over the last quarter. 22.91% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in QRHC. Mink Brook Asset Management LLC acquired a new stake in shares of Quest Resource in the 2nd quarter valued at $405,000. Kennedy Capital Management LLC increased its holdings in Quest Resource by 52.5% in the second quarter. Kennedy Capital Management LLC now owns 311,289 shares of the business services provider’s stock valued at $629,000 after buying an additional 107,107 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Quest Resource in the second quarter valued at $156,000. Jane Street Group LLC purchased a new stake in Quest Resource during the 2nd quarter worth about $125,000. Finally, Truist Financial Corp boosted its position in shares of Quest Resource by 11.8% during the 3rd quarter. Truist Financial Corp now owns 276,222 shares of the business services provider’s stock worth $431,000 after acquiring an additional 29,253 shares in the last quarter. Hedge funds and other institutional investors own 48.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on QRHC shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Quest Resource in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Quest Resource from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Quest Resource has an average rating of “Reduce” and a consensus target price of $2.25.

Quest Resource Trading Down 2.3%

NASDAQ QRHC traded down $0.05 on Monday, reaching $1.92. The stock had a trading volume of 28,340 shares, compared to its average volume of 178,552. Quest Resource has a 12-month low of $1.11 and a 12-month high of $6.75. The stock has a fifty day moving average price of $1.76 and a two-hundred day moving average price of $1.81. The firm has a market capitalization of $40.15 million, a price-to-earnings ratio of -1.73 and a beta of 0.16. 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 (NASDAQ:QRHC) last issued its quarterly earnings data on Monday, November 10th. The business services provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). The firm had revenue of $63.34 million during the quarter, compared to analyst estimates of $59.83 million. Quest Resource had a negative net margin of 8.89% and a negative return on equity of 12.96%. As a group, sell-side 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.