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

Quest Resource Holding Corporation. (NASDAQ:QRHC) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 1,420,000 shares, a growth of 2,258.8% from the September 30th total of 60,200 shares. Currently, 9.0% of the company’s stock are short sold. Based on an average trading volume of 383,800 shares, the days-to-cover ratio is currently 3.7 days. Based on an average trading volume of 383,800 shares, the days-to-cover ratio is currently 3.7 days. Currently, 9.0% of the company’s stock are short sold.

Insider Activity at Quest Resource

In related news, Director Daniel M. Friedberg bought 17,232 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was acquired at an average cost of $1.60 per share, for a total transaction of $27,571.20. Following the purchase, the director owned 2,842,353 shares in the company, valued at approximately $4,547,764.80. This represents a 0.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Barry M. Kitt bought 62,867 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were bought at an average price of $1.36 per share, with a total value of $85,499.12. Following the completion of the purchase, the insider owned 2,692,248 shares in the company, valued at approximately $3,661,457.28. The trade was a 2.39% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 132,579 shares of company stock valued at $190,379. 22.91% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quest Resource

Institutional investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in shares of Quest Resource during the first quarter worth approximately $27,000. Cresset Asset Management LLC purchased a new position in shares of Quest Resource during the first quarter worth approximately $43,000. Qube Research & Technologies Ltd purchased a new position in shares of Quest Resource during the second quarter worth approximately $50,000. Nuveen LLC purchased a new position in shares of Quest Resource during the first quarter worth approximately $60,000. Finally, Bank of America Corp DE increased its position 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 acquiring an additional 4,104 shares during the period. 48.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QRHC has been the subject of several analyst reports. Wall Street Zen lowered Quest Resource from a “hold” rating to a “sell” rating in a research note on Sunday, August 3rd. Northland Capmk lowered Quest Resource from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Quest Resource in a research note on Wednesday, October 8th. Northland Securities lowered Quest Resource from an “outperform” rating to a “market perform” rating and set a $2.25 price objective for the company. in a research note on Tuesday, August 12th. Finally, Zacks Research raised shares of Quest Resource from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $2.25.

Quest Resource Stock Down 1.5%

Shares of NASDAQ:QRHC opened at $1.35 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.62. Quest Resource has a 12 month low of $1.11 and a 12 month high of $8.37. The company has a 50-day moving average price of $1.57 and a 200 day moving average price of $1.96. The company has a market cap of $27.96 million, a price-to-earnings ratio of -1.12 and a beta of 0.25.

Quest Resource (NASDAQ:QRHC) last announced its quarterly earnings data on Monday, August 11th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). The firm had revenue of $59.54 million during the quarter, compared to the consensus estimate of $72.56 million. Quest Resource had a negative return on equity of 13.12% and a negative net margin of 9.34%. As a group, equities research analysts predict that Quest Resource will post 0.09 earnings per share for the current year.

About Quest Resource

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.