Sky Quarry Inc. (NASDAQ:SKYQ) Short Interest Down 59.2% in April

Sky Quarry Inc. (NASDAQ:SKYQ) saw a large decrease in short interest in April. As of April 30th, there was short interest totaling 970,930 shares, a decrease of 59.2% from the April 15th total of 2,376,992 shares. Based on an average daily volume of 3,068,212 shares, the short-interest ratio is currently 0.3 days. Approximately 27.9% of the company’s shares are short sold.

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) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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 reporting period.

Sky Quarry Stock Up 23.3%

Shares of NASDAQ:SKYQ traded up $0.58 on Friday, hitting $3.07. The company had a trading volume of 5,636,406 shares, compared to its average volume of 2,300,404. The firm’s 50-day simple moving average is $5.03 and its two-hundred day simple moving average is $3.67. Sky Quarry has a 1 year low of $1.66 and a 1 year high of $19.45. The firm has a market capitalization of $11.54 million, a price-to-earnings ratio of -0.63 and a beta of 4.12.

Sky Quarry (NASDAQ:SKYQ) last posted its earnings results on Friday, May 15th. The company reported ($0.65) 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%.

Analyst Ratings Changes

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