Short Interest in Quest Resource Holding Corporation. (NASDAQ:QRHC) Decreases By 34.3%

Quest Resource Holding Corporation. (NASDAQ:QRHC) was the target of a significant drop in short interest in April. As of April 30th, there was short interest totaling 51,853 shares, a drop of 34.3% from the April 15th total of 78,974 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average trading volume of 48,717 shares, the short-interest ratio is presently 1.1 days.

Hedge Funds Weigh In On Quest Resource

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Quest Resource by 36.5% during the fourth 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. Goldman Sachs Group Inc. grew its holdings in shares of Quest Resource by 22.8% during the first quarter. Goldman Sachs Group Inc. now owns 51,990 shares of the business services provider’s stock worth $135,000 after purchasing an additional 9,647 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Quest Resource by 91.4% during 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 during the last quarter. Greenhaven Road Investment Management L.P. grew its holdings in shares of 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 purchasing an additional 17,801 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Quest Resource during the second quarter worth about $50,000. Hedge funds and other institutional investors own 48.16% of the company’s stock.

Wall Street Analyst Weigh In

QRHC has been the topic of several analyst reports. Weiss Ratings upgraded Quest Resource from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Zacks Research lowered Quest Resource from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 31st. One research 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 company presently has a consensus rating of “Sell” and a consensus price target of $2.25.

Quest Resource Stock Performance

NASDAQ:QRHC opened at $1.05 on Monday. The firm has a market capitalization of $22.06 million, a PE ratio of -3.09 and a beta of 0.21. The business’s fifty day moving average price is $1.17 and its 200 day moving average price is $1.64. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.28 and a quick ratio of 1.28. Quest Resource has a 12 month low of $0.81 and a 12 month high of $2.55.

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

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.