Short Interest in Quest Resource Holding Corporation. (NASDAQ:QRHC) Drops By 19.5%

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

Quest Resource Price Performance

Shares of NASDAQ:QRHC opened at $1.97 on Wednesday. The company’s fifty day moving average is $1.94 and its two-hundred day moving average is $1.79. The company has a market cap of $41.11 million, a P/E ratio of -1.77 and a beta of 0.14. Quest Resource has a 12-month low of $1.11 and a 12-month high of $6.21. 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 announced its quarterly earnings data on Monday, November 10th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.03). Quest Resource had a negative return on equity of 12.96% and a negative net margin of 8.89%.The business had revenue of $63.34 million during the quarter, compared to analysts’ expectations of $59.83 million. Equities analysts expect that Quest Resource will post 0.09 earnings per share for the current fiscal year.

Insider Transactions at Quest Resource

In other news, major shareholder Barry M. Kitt purchased 103,412 shares of the stock in a transaction dated Thursday, October 23rd. The shares were bought at an average cost of $1.26 per share, for a total transaction of $130,299.12. Following the transaction, the insider owned 2,595,901 shares in the company, valued at $3,270,835.26. This trade represents a 4.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders acquired 204,759 shares of company stock worth $270,127. Company insiders own 22.91% of the company’s stock.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on QRHC shares. Weiss Ratings reaffirmed 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 report on Monday, October 13th. Finally, Wall Street Zen upgraded Quest Resource to a “hold” rating in a research report on Saturday, January 10th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $2.25.

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.