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

Quest Resource Holding Corporation. (NASDAQ:QRHC) saw a large decrease in short interest in August. As of August 31st, there was short interest totaling 73,900 shares, a decrease of 20.8% from the August 15th total of 93,300 shares. Based on an average daily trading volume, of 115,700 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.5% of the company’s stock are short sold. Currently, 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 115,700 shares, the days-to-cover ratio is presently 0.6 days.

Quest Resource Stock Performance

NASDAQ:QRHC opened at $1.60 on Friday. Quest Resource has a 1 year low of $1.41 and a 1 year high of $9.14. The firm’s fifty day simple moving average is $1.87 and its 200 day simple moving average is $2.29. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $33.14 million, a PE ratio of -1.32 and a beta of 0.29.

Quest Resource (NASDAQ:QRHC) last posted its earnings results on Monday, August 11th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). Quest Resource had a negative net margin of 9.34% and a negative return on equity of 13.12%. The firm had revenue of $59.54 million during the quarter, compared to analyst estimates of $72.56 million. On average, sell-side analysts anticipate that Quest Resource will post 0.09 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel M. Friedberg bought 17,232 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was bought at an average price of $1.60 per share, for a total transaction of $27,571.20. Following the transaction, the director directly owned 2,842,353 shares in the company, valued at $4,547,764.80. This represents a 0.61% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert J. Lipstein bought 15,000 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was bought at an average price of $1.70 per share, with a total value of $25,500.00. Following the transaction, the director owned 37,500 shares in the company, valued at approximately $63,750. This represents a 66.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 36,232 shares of company stock valued at $60,351. Insiders own 22.91% of the company’s stock.

Institutional Trading of Quest Resource

Several hedge funds and other institutional investors have recently bought and sold shares of QRHC. Northern Trust Corp grew its position in Quest Resource by 2.3% in the 4th quarter. Northern Trust Corp now owns 130,296 shares of the business services provider’s stock worth $847,000 after purchasing an additional 2,881 shares during the last quarter. Bank of America Corp DE grew its position in Quest Resource by 36.5% in the 4th quarter. Bank of America Corp DE now owns 15,356 shares of the business services provider’s stock worth $100,000 after purchasing an additional 4,104 shares during the last quarter. Chapin Davis Inc. acquired a new stake in Quest Resource in the 1st quarter worth $78,000. XTX Topco Ltd acquired a new stake in Quest Resource in the 1st quarter worth $27,000. Finally, Nuveen LLC acquired a new stake in Quest Resource in the 1st quarter worth $60,000. 48.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

QRHC has been the topic of a number of recent research reports. Zacks Research upgraded shares of Quest Resource to a “strong sell” rating in a report on Tuesday, August 12th. Northland Capmk downgraded shares of Quest Resource from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 12th. Northland Securities downgraded shares of Quest Resource from an “outperform” rating to a “market perform” rating and set a $2.25 price target on the stock. in a report on Tuesday, August 12th. Finally, Wall Street Zen downgraded shares of Quest Resource from a “hold” rating to a “sell” rating in a report on Sunday, August 3rd. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Quest Resource presently has a consensus 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.