Sky Quarry Inc. (NASDAQ:SKYQ) Short Interest Down 37.0% in May

Sky Quarry Inc. (NASDAQ:SKYQ) was the recipient of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 327,119 shares, a decrease of 37.0% from the May 14th total of 519,261 shares. Currently, 7.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 513,056 shares, the short-interest ratio is presently 0.6 days.

Sky Quarry Stock Up 2.1%

Shares of Sky Quarry stock traded up $0.03 during trading on Tuesday, reaching $1.23. 123,753 shares of the stock were exchanged, compared to its average volume of 4,977,303. The stock’s fifty day moving average is $4.68 and its 200 day moving average is $3.52. The firm has a market cap of $5.87 million, a price-to-earnings ratio of -0.35 and a beta of 3.17. Sky Quarry has a 1 year low of $1.10 and a 1 year high of $19.45.

Sky Quarry (NASDAQ:SKYQ) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.65) earnings per share (EPS) for the quarter. Sky Quarry had a negative net margin of 97.65% and a negative return on equity of 238.54%. The business had revenue of $0.00 million for the quarter.

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 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen upgraded shares of Sky Quarry to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings cut shares of Sky Quarry from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

About Sky Quarry

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.