Sky Quarry (NASDAQ:SKYQ) Shares Down 3.7% – What’s Next?

Shares of Sky Quarry Inc. (NASDAQ:SKYQ) fell 3.7% during trading on Friday . The stock traded as low as $1.77 and last traded at $1.82. 272,805 shares were traded during trading, a decline of 69% from the average session volume of 868,971 shares. The stock had previously closed at $1.89.

Analysts Set New Price Targets

Several brokerages recently commented on SKYQ. Wall Street Zen raised shares of Sky Quarry to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings raised shares of Sky Quarry from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Sky Quarry Stock Down 3.7%

The firm’s 50 day simple moving average is $4.84 and its 200-day simple moving average is $3.57. The company has a market capitalization of $8.72 million, a PE ratio of -0.53 and a beta of 3.13.

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

Institutional Investors Weigh In On Sky Quarry

An institutional investor recently bought a new position in Sky Quarry stock. JPMorgan Chase & Co. acquired a new position in shares of Sky Quarry Inc. (NASDAQ:SKYQ) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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.

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.