Short Interest in Sky Quarry Inc. (NASDAQ:SKYQ) Drops By 37.0%

Sky Quarry Inc. (NASDAQ:SKYQ) was the recipient of a large decrease in short interest in 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. Based on an average trading volume of 513,056 shares, the days-to-cover ratio is presently 0.6 days. Approximately 7.4% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SKYQ shares. Weiss Ratings lowered shares of Sky Quarry from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. Wall Street Zen upgraded shares of Sky Quarry to a “sell” rating in a research note on Saturday, March 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On Sky Quarry

An institutional investor recently bought a new position in Sky Quarry stock. JPMorgan Chase & Co. purchased a new position in Sky Quarry Inc. (NASDAQ:SKYQ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 at the end of the most recent quarter.

Sky Quarry Price Performance

NASDAQ SKYQ opened at $1.31 on Monday. The company has a market cap of $6.27 million, a PE ratio of -0.38 and a beta of 3.17. Sky Quarry has a 52 week low of $1.30 and a 52 week high of $19.45. The firm’s 50-day simple moving average is $4.76 and its two-hundred day simple moving average is $3.54.

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

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.