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

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QRHC. Zacks Research cut Quest Resource from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 31st. Weiss Ratings lowered Quest Resource from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 21st. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Quest Resource presently has a consensus rating of “Sell” and an average target price of $2.25.

Institutional Investors Weigh In On Quest Resource

A number of institutional investors and hedge funds have recently modified their holdings of the company. Greenhaven Road Investment Management L.P. increased its stake 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 purchasing an additional 17,801 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Quest Resource during the second quarter worth $50,000. Jane Street Group LLC grew 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 valued at $51,000 after purchasing an additional 13,004 shares during the last quarter. Bank of America Corp DE grew its holdings in Quest Resource by 36.5% in the fourth quarter. Bank of America Corp DE now owns 15,356 shares of the business services provider’s stock valued at $100,000 after purchasing an additional 4,104 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Quest Resource by 22.8% in the first quarter. Goldman Sachs Group Inc. now owns 51,990 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 9,647 shares during the last quarter. Institutional investors and hedge funds own 48.16% of the company’s stock.

Quest Resource Price Performance

Shares of NASDAQ QRHC traded up $0.05 during midday trading on Thursday, hitting $1.29. The company had a trading volume of 8,331 shares, compared to its average volume of 49,910. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.64. Quest Resource has a twelve month low of $0.81 and a twelve month high of $2.41. The business has a 50-day simple moving average of $1.22 and a two-hundred day simple moving average of $1.54. The firm has a market capitalization of $27.19 million, a price-to-earnings ratio of -3.79 and a beta of 0.18.

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