Short Interest in Quest Resource Holding Corporation. (NASDAQ:QRHC) Rises By 104.7%

Quest Resource Holding Corporation. (NASDAQ:QRHC) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 106,121 shares, a growth of 104.7% from the April 30th total of 51,853 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 42,773 shares, the days-to-cover ratio is currently 2.5 days.

Quest Resource Stock Performance

NASDAQ:QRHC opened at $1.34 on Wednesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $28.15 million, a P/E ratio of -3.94 and a beta of 0.23. The company has a 50 day moving average price of $1.14 and a 200 day moving average price of $1.62. Quest Resource has a fifty-two week low of $0.81 and a fifty-two week high of $2.41.

Quest Resource (NASDAQ:QRHC) last posted its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). The company had revenue of $61.74 million for the quarter, compared to analysts’ expectations of $62.21 million. Quest Resource had a negative return on equity of 12.30% and a negative net margin of 3.00%. Equities research analysts forecast that Quest Resource will post -0.22 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on QRHC. Zacks Research lowered shares of Quest Resource from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 31st. Weiss Ratings lowered shares of Quest Resource from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 21st. One investment 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 currently has an average rating of “Sell” and an average price target of $2.25.

Hedge Funds Weigh In On Quest Resource

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE boosted its position 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 purchasing an additional 4,104 shares during the period. Qube Research & Technologies Ltd purchased a new position in Quest Resource in the 2nd quarter valued at approximately $50,000. Jane Street Group LLC boosted its position in Quest Resource by 91.4% in the 4th quarter. Jane Street Group LLC now owns 27,233 shares of the business services provider’s stock valued at $51,000 after buying an additional 13,004 shares during the period. Greenhaven Road Investment Management L.P. boosted its position in Quest Resource by 137.2% in the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 30,777 shares of the business services provider’s stock valued at $48,000 after buying an additional 17,801 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Quest Resource by 22.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 51,990 shares of the business services provider’s stock valued at $135,000 after buying an additional 9,647 shares during the period. Hedge funds and other institutional investors own 48.16% of the company’s stock.

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.