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

Sky Quarry Inc. (NASDAQ:SKYQ) saw a significant drop in short interest in 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. Approximately 27.9% of the company’s stock are short sold. Based on an average daily volume of 3,068,212 shares, the short-interest ratio is currently 0.3 days.

Sky Quarry Stock Up 23.3%

Shares of NASDAQ:SKYQ traded up $0.58 during midday trading on Friday, reaching $3.07. The company had a trading volume of 5,636,406 shares, compared to its average volume of 2,300,404. The stock’s fifty day moving average price is $5.04 and its 200-day moving average price is $3.67. Sky Quarry has a one year low of $1.66 and a one 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. The company had revenue of $0.00 million during the quarter. Sky Quarry had a negative return on equity of 188.99% and a negative net margin of 97.65%.

Institutional Trading of Sky Quarry

A hedge fund recently bought a new stake in Sky Quarry stock. JPMorgan Chase & Co. purchased a new position in Sky Quarry Inc. (NASDAQ:SKYQ) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 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.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Sky Quarry to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sky Quarry in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Sky Quarry presently 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.