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

Sky Quarry Inc. (NASDAQ:SKYQ) saw a significant decrease in short interest in 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. Approximately 7.4% of the company’s shares are short sold. Based on an average daily volume of 513,056 shares, the short-interest ratio is presently 0.6 days.

Analyst Ratings Changes

Several brokerages have commented on SKYQ. 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. 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, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sky Quarry stock. JPMorgan Chase & Co. acquired a new stake in Sky Quarry Inc. (NASDAQ:SKYQ) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 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 and Exchange Commission.

Sky Quarry Trading Up 1.7%

NASDAQ:SKYQ traded up $0.02 during mid-day trading on Wednesday, hitting $1.21. The stock had a trading volume of 247,158 shares, compared to its average volume of 4,937,477. The stock has a 50-day simple moving average of $4.60 and a two-hundred day simple moving average of $3.51. The company has a market capitalization of $5.80 million, a PE ratio of -0.35 and a beta of 3.13. Sky Quarry has a twelve month low of $1.10 and a twelve month high of $19.45.

Sky Quarry (NASDAQ:SKYQ) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.65) 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 during the quarter.

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.