Sky Quarry (NASDAQ:SKYQ – Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($0.77) earnings per share (EPS) for the quarter, Zacks reports. Sky Quarry had a negative net margin of 97.65% and a negative return on equity of 238.54%.
Sky Quarry Stock Down 20.1%
Sky Quarry stock traded down $0.69 during mid-day trading on Thursday, hitting $2.74. 1,955,050 shares of the company were exchanged, compared to its average volume of 7,863,280. The business has a fifty day moving average of $3.07 and a 200 day moving average of $3.65. Sky Quarry has a 1-year low of $1.10 and a 1-year high of $19.45. The company has a market capitalization of $13.12 million, a PE ratio of -0.80 and a beta of 2.35.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings lowered shares of Sky Quarry from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.
Institutional Investors Weigh In On Sky Quarry
An institutional investor recently bought a new stake in Sky Quarry stock. JPMorgan Chase & Co. bought a new position in shares of Sky Quarry Inc. (NASDAQ:SKYQ – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 2,249,882 shares of the company’s stock, valued at approximately $1,387,000. JPMorgan Chase & Co. owned approximately 10.51% of Sky Quarry as of its most recent SEC filing.
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.
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