Quest Resource Holding Co. (NASDAQ:QRHC) Short Interest Up 19.7% in March

Quest Resource Holding Co. (NASDAQ:QRHC) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 474,100 shares, an increase of 19.7% from the March 15th total of 396,000 shares. Based on an average daily volume of 84,300 shares, the short-interest ratio is presently 5.6 days. Currently, 2.9% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on QRHC shares. StockNews.com downgraded Quest Resource from a “hold” rating to a “sell” rating in a report on Thursday, March 13th. Northland Securities set a $6.50 price target on shares of Quest Resource in a research report on Thursday, March 13th.

Insider Transactions at Quest Resource

In other news, CEO Perry W. Moss bought 16,338 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average price of $3.01 per share, with a total value of $49,177.38. Following the completion of the purchase, the chief executive officer now directly owns 257,933 shares of the company’s stock, valued at approximately $776,378.33. This represents a 6.76 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have acquired 23,912 shares of company stock worth $71,046. Company insiders own 22.84% of the company’s stock.

Institutional Trading of Quest Resource

Several hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in shares of Quest Resource by 53.3% during the 4th quarter. Wells Fargo & Company MN now owns 8,143 shares of the business services provider’s stock worth $53,000 after purchasing an additional 2,830 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Quest Resource in the fourth quarter valued at $68,000. Greenhaven Road Investment Management L.P. purchased a new position in shares of Quest Resource during the 4th quarter valued at $72,000. Bank of America Corp DE grew its stake 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 worth $100,000 after acquiring an additional 4,104 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Quest Resource in the 3rd quarter worth about $116,000. Institutional investors own 48.16% of the company’s stock.

Quest Resource Stock Performance

QRHC stock opened at $2.25 on Monday. The business has a 50 day moving average of $3.41 and a 200-day moving average of $5.64. The firm has a market cap of $46.36 million, a PE ratio of -6.08, a P/E/G ratio of 0.76 and a beta of 0.47. Quest Resource has a 12-month low of $1.91 and a 12-month high of $10.85. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.15.

Quest Resource (NASDAQ:QRHC) last announced its quarterly earnings data on Wednesday, March 12th. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The business had revenue of $69.97 million during the quarter, compared to the consensus estimate of $73.63 million. Quest Resource had a negative net margin of 2.74% and a positive return on equity of 3.11%. As a group, sell-side analysts expect that Quest Resource will post 0.09 earnings per share for the current year.

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.