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

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

Quest Resource Price Performance

Shares of NASDAQ:QRHC opened at $1.29 on Friday. The company’s 50-day moving average is $1.23 and its 200 day moving average is $1.53. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $27.18 million, a P/E ratio of -3.79 and a beta of 0.18. Quest Resource has a fifty-two week low of $0.81 and a fifty-two week high of $2.41.

Quest Resource (NASDAQ:QRHC) last posted its quarterly 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 net margin of 3.00% and a negative return on equity of 12.30%. The company had revenue of $61.73 million for the quarter, compared to the consensus estimate of $62.21 million. On average, equities research analysts forecast that Quest Resource will post -0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

QRHC has been the topic of a number of research analyst reports. Weiss Ratings downgraded Quest Resource from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 21st. Zacks Research downgraded Quest Resource from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Sell” and an average target price of $2.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Veradace Capital Management LLC purchased a new stake in shares of Quest Resource during the 4th quarter worth approximately $2,336,000. Mink Brook Asset Management LLC purchased a new position in Quest Resource in the second quarter valued at approximately $405,000. Rothschild Wealth LLC bought a new position in Quest Resource during the fourth quarter valued at $274,000. Jane Street Group LLC bought a new position in Quest Resource during the second quarter valued at $125,000. Finally, Sei Investments Co. increased its position in Quest Resource by 100.0% in the first quarter. Sei Investments Co. now owns 122,670 shares of the business services provider’s stock worth $146,000 after buying an additional 61,335 shares during the last quarter. 48.16% of the stock is owned by institutional investors.

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.