Quest Resource Holding Corporation. (NASDAQ:QRHC) Short Interest Down 38.1% in June

Quest Resource Holding Corporation. (NASDAQ:QRHC) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 46,288 shares, a decrease of 38.1% from the May 31st total of 74,788 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average trading volume of 28,999 shares, the short-interest ratio is currently 1.6 days.

Hedge Funds Weigh In On Quest Resource

Several institutional investors and hedge funds have recently modified their holdings of the company. Veradace Capital Management LLC acquired a new stake in Quest Resource during the fourth quarter worth approximately $2,336,000. Mink Brook Asset Management LLC raised its holdings in Quest Resource by 52.0% in the 3rd quarter. Mink Brook Asset Management LLC now owns 304,418 shares of the business services provider’s stock valued at $475,000 after acquiring an additional 104,085 shares during the last quarter. Rothschild Wealth LLC purchased a new position in shares of Quest Resource during the 4th quarter worth $274,000. Sei Investments Co. boosted its holdings in shares of Quest Resource by 100.0% during the first quarter. Sei Investments Co. now owns 122,670 shares of the business services provider’s stock worth $146,000 after purchasing an additional 61,335 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Quest Resource during the second quarter worth $125,000. Hedge funds and other institutional investors own 48.16% of the company’s stock.

Quest Resource Price Performance

Quest Resource stock traded up $0.05 during midday trading on Thursday, reaching $1.29. 8,331 shares of the company were exchanged, compared to its average volume of 49,910. The firm’s 50-day simple moving average is $1.22 and its 200-day simple moving average is $1.54. Quest Resource has a 1 year low of $0.81 and a 1 year high of $2.41. The company has a market capitalization of $27.19 million, a price-to-earnings ratio of -3.79 and a beta of 0.18. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.28 and a current ratio of 1.28.

Quest Resource (NASDAQ:QRHC) last released its earnings results on Thursday, May 7th. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). Quest Resource had a negative net margin of 3.00% and a negative return on equity of 12.30%. The firm had revenue of $61.73 million during the quarter, compared to analysts’ expectations of $62.21 million. On average, analysts anticipate that Quest Resource will post -0.22 EPS for the current year.

Wall Street Analyst Weigh In

Several equities 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. Weiss Ratings downgraded shares of Quest Resource from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Quest Resource presently has a consensus rating of “Sell” and an average target price 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.