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

Quest Resource Holding Corporation. (NASDAQ:QRHC) was the target of a large 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. Based on an average daily volume of 58,184 shares, the days-to-cover ratio is presently 2.6 days. Currently, 0.9% of the company’s stock are short sold. Currently, 0.9% of the company’s stock are short sold. Based on an average daily volume of 58,184 shares, the days-to-cover ratio is presently 2.6 days.

Analyst Upgrades and Downgrades

QRHC has been the subject of several analyst reports. Zacks Research raised Quest Resource from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quest Resource in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Quest Resource to a “hold” rating in a research note on Saturday, January 10th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Quest Resource currently has an average rating of “Reduce” and a consensus price target of $2.25.

Insider Buying and Selling

In other Quest Resource news, major shareholder Barry M. Kitt acquired 62,867 shares of the stock in a transaction on Monday, October 27th. The shares were purchased at an average price of $1.36 per share, for a total transaction of $85,499.12. Following the completion of the acquisition, the insider owned 2,692,248 shares in the company, valued at approximately $3,661,457.28. This represents a 2.39% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have acquired 204,759 shares of company stock worth $270,127. Insiders own 22.91% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in 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 acquiring an additional 4,104 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Quest Resource by 22.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 51,990 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 9,647 shares during the period. Connors Investor Services Inc. lifted its holdings in Quest Resource by 25.0% during the 2nd quarter. Connors Investor Services Inc. now owns 50,026 shares of the business services provider’s stock worth $101,000 after purchasing an additional 10,000 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Quest Resource during the 2nd quarter worth about $156,000. Finally, Kennedy Capital Management LLC boosted its stake in Quest Resource by 52.5% in the 2nd quarter. Kennedy Capital Management LLC now owns 311,289 shares of the business services provider’s stock worth $629,000 after purchasing an additional 107,107 shares during the period. 48.16% of the stock is currently owned by hedge funds and other institutional investors.

Quest Resource Stock Performance

Quest Resource stock traded up $0.01 during trading on Monday, hitting $1.99. The stock had a trading volume of 53,379 shares, compared to its average volume of 45,213. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.56. The stock’s 50 day moving average is $1.92 and its two-hundred day moving average is $1.79. Quest Resource has a 1 year low of $1.11 and a 1 year high of $6.21. The stock has a market cap of $41.53 million, a price-to-earnings ratio of -1.79 and a beta of 0.14.

Quest Resource (NASDAQ:QRHC) last announced its quarterly earnings data on Monday, November 10th. The business services provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.03). The firm had revenue of $63.34 million during the quarter, compared to analysts’ expectations of $59.83 million. Quest Resource had a negative return on equity of 12.96% and a negative net margin of 8.89%. As a group, analysts predict that Quest Resource will post 0.09 EPS for the current 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.