Quest Resource Holding Corporation. (NASDAQ:QRHC) Sees Large Increase in Short Interest

Quest Resource Holding Corporation. (NASDAQ:QRHC) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 88,006 shares, an increase of 56.0% from the March 15th total of 56,405 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average trading volume of 143,333 shares, the short-interest ratio is presently 0.6 days.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on QRHC shares. Zacks Research downgraded shares of Quest Resource from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 31st. Wall Street Zen upgraded shares of Quest Resource to a “hold” rating in a report on Saturday, January 10th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Sell” and a consensus target price of $2.25.

Quest Resource Stock Performance

QRHC stock opened at $1.10 on Thursday. The firm has a 50 day simple moving average of $1.47 and a 200 day simple moving average of $1.68. Quest Resource has a 52 week low of $0.81 and a 52 week high of $2.65. The stock has a market cap of $23.06 million, a P/E ratio of -1.51 and a beta of 0.25. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.30 and a current ratio of 1.30.

Quest Resource (NASDAQ:QRHC) last announced its quarterly earnings results on Friday, March 13th. The business services provider reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). Quest Resource had a negative net margin of 6.15% and a negative return on equity of 14.18%. The firm had revenue of $58.91 million during the quarter, compared to the consensus estimate of $61.21 million. Research analysts anticipate that Quest Resource will post 0.09 earnings per share for the current fiscal year.

Institutional Trading of Quest Resource

Several large investors have recently added to or reduced their stakes in the business. Veradace Capital Management LLC bought a new position in shares of Quest Resource during the 4th quarter valued at $2,336,000. Rothschild Wealth LLC bought a new stake in Quest Resource in the fourth quarter worth $274,000. Jane Street Group LLC boosted its holdings in Quest Resource by 91.4% in the fourth quarter. Jane Street Group LLC now owns 27,233 shares of the business services provider’s stock worth $51,000 after purchasing an additional 13,004 shares in the last quarter. Greenhaven Road Investment Management L.P. increased its position in Quest Resource by 137.2% during the third quarter. Greenhaven Road Investment Management L.P. now owns 30,777 shares of the business services provider’s stock worth $48,000 after buying an additional 17,801 shares during the last quarter. Finally, Mink Brook Asset Management LLC increased its position in Quest Resource by 52.0% during the third quarter. Mink Brook Asset Management LLC now owns 304,418 shares of the business services provider’s stock worth $475,000 after buying an additional 104,085 shares during the last quarter. 48.16% of the stock is owned by institutional investors.

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.