Short Interest in Quest Resource Holding Co. (NASDAQ:QRHC) Expands By 349.7%

Quest Resource Holding Co. (NASDAQ:QRHC) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 69,700 shares, an increase of 349.7% from the June 15th total of 15,500 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 85,900 shares, the short-interest ratio is presently 0.8 days.

Insiders Place Their Bets

In other news, COO David P. Sweitzer sold 19,841 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $8.40, for a total value of $166,664.40. Following the transaction, the chief operating officer now owns 8,511 shares of the company’s stock, valued at $71,492.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO David P. Sweitzer sold 16,047 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $8.52, for a total value of $136,720.44. Following the transaction, the chief operating officer now owns 8,511 shares of the company’s stock, valued at $72,513.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO David P. Sweitzer sold 19,841 shares of Quest Resource stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $8.40, for a total value of $166,664.40. Following the completion of the sale, the chief operating officer now owns 8,511 shares in the company, valued at $71,492.40. The disclosure for this sale can be found here. Insiders have sold a total of 47,073 shares of company stock valued at $404,609 over the last quarter. Company insiders own 22.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC raised its stake in shares of Quest Resource by 2.7% in the 1st quarter. First Eagle Investment Management LLC now owns 356,398 shares of the business services provider’s stock worth $3,058,000 after buying an additional 9,490 shares in the last quarter. North Star Investment Management Corp. acquired a new stake in shares of Quest Resource during the first quarter worth $1,287,000. Finally, Russell Investments Group Ltd. raised its position in shares of Quest Resource by 453.5% during the first quarter. Russell Investments Group Ltd. now owns 18,448 shares of the business services provider’s stock worth $158,000 after purchasing an additional 15,115 shares during the period. Institutional investors and hedge funds own 48.16% of the company’s stock.

Quest Resource Trading Up 4.3 %

Shares of NASDAQ QRHC traded up $0.36 during midday trading on Thursday, hitting $8.78. The stock had a trading volume of 63,549 shares, compared to its average volume of 60,559. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.03. Quest Resource has a 1-year low of $6.01 and a 1-year high of $10.85. The company has a fifty day moving average price of $9.11 and a 200 day moving average price of $8.18. The company has a market capitalization of $177.80 million, a price-to-earnings ratio of -31.36, a PEG ratio of 1.36 and a beta of 0.64.

Quest Resource (NASDAQ:QRHC) last released its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. Quest Resource had a positive return on equity of 6.70% and a negative net margin of 2.06%. The business had revenue of $72.65 million during the quarter, compared to analyst estimates of $72.30 million. On average, analysts predict that Quest Resource will post 0.42 earnings per share for the current year.

Analyst Ratings Changes

Separately, Craig Hallum boosted their target price on Quest Resource from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 10th.

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.