Quest Resource Holding Corporation. (NASDAQ:QRHC) Short Interest Down 32.6% in December

Quest Resource Holding Corporation. (NASDAQ:QRHC) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 186,804 shares, a decline of 32.6% from the November 30th total of 277,289 shares. Based on an average daily volume of 103,204 shares, the short-interest ratio is presently 1.8 days. Approximately 1.2% of the company’s shares are sold short. Approximately 1.2% of the company’s shares are sold short. Based on an average daily volume of 103,204 shares, the short-interest ratio is presently 1.8 days.

Insider Buying and Selling

In other Quest Resource news, major shareholder Barry M. Kitt acquired 103,412 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was acquired at an average price of $1.26 per share, for a total transaction of $130,299.12. Following the acquisition, the insider owned 2,595,901 shares in the company, valued at $3,270,835.26. This represents a 4.15% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders purchased 204,759 shares of company stock worth $270,127. Corporate insiders own 22.91% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mink Brook Asset Management LLC purchased a new stake in shares of Quest Resource in the second quarter worth $405,000. Kennedy Capital Management LLC raised its position in shares of Quest Resource by 52.5% in the 2nd quarter. Kennedy Capital Management LLC now owns 311,289 shares of the business services provider’s stock worth $629,000 after purchasing an additional 107,107 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Quest Resource in the 2nd quarter worth about $156,000. Jane Street Group LLC bought a new position in Quest Resource in the 2nd quarter worth about $125,000. Finally, Truist Financial Corp grew its position in Quest Resource by 11.8% during the 3rd quarter. Truist Financial Corp now owns 276,222 shares of the business services provider’s stock valued at $431,000 after purchasing an additional 29,253 shares during the last quarter. Institutional investors own 48.16% of the company’s stock.

Quest Resource Stock Down 4.0%

Shares of QRHC stock traded down $0.08 during mid-day trading on Wednesday, reaching $1.90. 29,933 shares of the company’s stock traded hands, compared to its average volume of 177,417. The company’s 50-day moving average price is $1.78 and its 200-day moving average price is $1.81. The company has a market cap of $39.65 million, a P/E ratio of -1.72 and a beta of 0.16. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.56. Quest Resource has a 12 month low of $1.11 and a 12 month high of $6.75.

Quest Resource (NASDAQ:QRHC) last issued its quarterly earnings results on Monday, November 10th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). The business had revenue of $63.34 million for the quarter, compared to analysts’ expectations of $59.83 million. Quest Resource had a negative net margin of 8.89% and a negative return on equity of 12.96%. On average, equities analysts expect that Quest Resource will post 0.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on QRHC. Zacks Research upgraded Quest Resource from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quest Resource in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $2.25.

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.