Sky Quarry Inc. (NASDAQ:SKYQ) Short Interest Down 37.9% in March

Sky Quarry Inc. (NASDAQ:SKYQ) was the recipient of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 1,717,336 shares, a decrease of 37.9% from the February 26th total of 2,764,552 shares. Based on an average daily volume of 4,734,128 shares, the short-interest ratio is currently 0.4 days. Approximately 49.4% of the shares of the company are short sold.

Analyst Ratings Changes

SKYQ has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sky Quarry in a research report on Thursday, January 22nd. Wall Street Zen upgraded Sky Quarry to a “sell” rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Sky Quarry presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sky Quarry stock. JPMorgan Chase & Co. bought a new position in Sky Quarry Inc. (NASDAQ:SKYQ) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,249,882 shares of the company’s stock, valued at approximately $1,387,000. JPMorgan Chase & Co. owned about 10.51% of Sky Quarry at the end of the most recent quarter.

Sky Quarry Stock Performance

Shares of NASDAQ:SKYQ traded up $0.40 during midday trading on Friday, reaching $2.42. 215,994 shares of the company’s stock were exchanged, compared to its average volume of 428,255. The company’s 50 day simple moving average is $2.87 and its two-hundred day simple moving average is $3.22. Sky Quarry has a 12 month low of $1.66 and a 12 month high of $15.52. The firm has a market capitalization of $9.08 million, a PE ratio of -0.50 and a beta of -1.68.

Sky Quarry Company Profile

We are an oil production, refining, and a development-stage environmental remediation company formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils. The recycling of asphalt shingles is expected to reduce the dependence on landfills for the removal of waste and to also reduce dependence on foreign and domestic virgin crude oil extraction for industrial uses. We have developed a process for separating oil from oily sands and other oil-bearing solids utilizing a proprietary solvent which we refer to as our ECOSolv technology or the ECOSolv process.