Sky Quarry Inc. (NASDAQ:SKYQ) Sees Large Decrease in Short Interest

Sky Quarry Inc. (NASDAQ:SKYQ) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 970,930 shares, a drop of 59.2% from the April 15th total of 2,376,992 shares. Based on an average trading volume of 3,068,212 shares, the short-interest ratio is currently 0.3 days. Approximately 27.9% of the company’s shares are sold short.

Institutional Trading of Sky Quarry

An institutional investor recently bought a new position in Sky Quarry stock. JPMorgan Chase & Co. acquired a new stake in shares of Sky Quarry Inc. (NASDAQ:SKYQ) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,249,882 shares of the company’s stock, valued at approximately $1,387,000. JPMorgan Chase & Co. owned 10.51% of Sky Quarry as of its most recent SEC filing.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SKYQ. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sky Quarry in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Sky Quarry to a “sell” rating in a research report on Saturday, March 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Sky Quarry Trading Up 23.3%

SKYQ stock traded up $0.58 during midday trading on Friday, reaching $3.07. 5,636,406 shares of the company’s stock traded hands, compared to its average volume of 2,300,404. Sky Quarry has a fifty-two week low of $1.66 and a fifty-two week high of $19.45. The business has a 50-day moving average price of $5.04 and a two-hundred day moving average price of $3.67.

Sky Quarry (NASDAQ:SKYQ) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.65) earnings per share for the quarter. The business had revenue of $0.00 million for the quarter. Sky Quarry had a negative net margin of 97.65% and a negative return on equity of 188.99%.

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.