Quest Resource Holding Corporation. (NASDAQ:QRHC – Get Free Report) saw a significant decrease in short interest in 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. Based on an average trading volume of 28,999 shares, the short-interest ratio is presently 1.6 days. Currently, 0.3% of the company’s stock are sold short.
Wall Street Analyst Weigh In
QRHC has been the topic of several research reports. Weiss Ratings cut shares of Quest Resource from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 21st. Zacks Research cut 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Sell” and a consensus price target of $2.25.
Check Out Our Latest Analysis on Quest Resource
Quest Resource Trading Up 4.0%
Quest Resource (NASDAQ:QRHC – Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $61.73 million during the quarter, compared to analyst estimates of $62.21 million. Quest Resource had a negative net margin of 3.00% and a negative return on equity of 12.30%. As a group, analysts expect that Quest Resource will post -0.22 EPS for the current fiscal year.
Institutional Investors Weigh In On Quest Resource
Several institutional investors and hedge funds have recently added to or reduced their stakes in QRHC. Bank of America Corp DE raised its holdings in 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 in the last quarter. Qube Research & Technologies Ltd bought a new position in Quest Resource in the second quarter valued at approximately $50,000. Jane Street Group LLC grew its stake 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 in the last quarter. Greenhaven Road Investment Management L.P. increased its position in shares of Quest Resource by 137.2% during the 3rd 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, Goldman Sachs Group Inc. boosted its holdings in shares of 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 last quarter. 48.16% of the stock is owned by institutional investors.
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.
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