Short Interest in Quest Resource Holding Co. (NASDAQ:QRHC) Grows By 396.1%

Quest Resource Holding Co. (NASDAQ:QRHC) saw a large growth in short interest in July. As of July 15th, there was short interest totalling 345,800 shares, a growth of 396.1% from the June 30th total of 69,700 shares. Based on an average daily volume of 88,100 shares, the short-interest ratio is presently 3.9 days. Currently, 2.0% of the shares of the stock are sold short.

Insider Activity

In other news, Director Glenn Culpepper acquired 4,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was purchased at an average cost of $9.75 per share, with a total value of $39,000.00. Following the acquisition, the director now owns 4,000 shares of the company’s stock, valued at approximately $39,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Quest Resource news, Director Glenn Culpepper acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was acquired at an average cost of $9.75 per share, for a total transaction of $39,000.00. Following the transaction, the director now owns 4,000 shares of the company’s stock, valued at $39,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David P. Sweitzer sold 11,185 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $9.05, for a total value of $101,224.25. Following the transaction, the chief operating officer now directly owns 16,226 shares of the company’s stock, valued at approximately $146,845.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,073 shares of company stock worth $404,609. Corporate insiders own 22.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Eagle Investment Management LLC increased its stake in 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 acquiring an additional 9,490 shares during the last quarter. Russell Investments Group Ltd. raised its position in Quest Resource by 453.5% during the 1st quarter. Russell Investments Group Ltd. now owns 18,448 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 15,115 shares during the last quarter. Finally, North Star Investment Management Corp. bought a new position in Quest Resource during the 1st quarter valued at approximately $1,287,000. Hedge funds and other institutional investors own 48.16% of the company’s stock.

Quest Resource Trading Down 1.7 %

Shares of QRHC traded down $0.15 during mid-day trading on Thursday, reaching $8.69. 66,946 shares of the company were exchanged, compared to its average volume of 60,084. The stock has a market capitalization of $175.97 million, a PE ratio of -31.03, a PEG ratio of 1.43 and a beta of 0.64. The business has a 50 day simple moving average of $8.86 and a two-hundred day simple moving average of $8.29. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.46 and a current ratio of 1.46. Quest Resource has a 52 week low of $6.01 and a 52 week high of $10.85.

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

Wall Street Analyst Weigh In

Separately, Craig Hallum increased their price objective 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.