Sky Quarry Inc. (NASDAQ:SKYQ) Short Interest Down 41.9% in August

Sky Quarry Inc. (NASDAQ:SKYQ) was the recipient of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 472,348 shares, a decline of 41.9% from the July 30th total of 812,853 shares. Currently, 5.6% of the company’s shares are short sold. Based on an average daily volume of 1,699,332 shares, the short-interest ratio is currently 0.3 days.

Institutional Trading of 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) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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

Shares of NASDAQ:SKYQ traded up $0.14 during trading hours on Monday, hitting $2.77. The company’s stock had a trading volume of 726,743 shares, compared to its average volume of 7,348,747. The firm’s fifty day moving average price is $3.37 and its 200 day moving average price is $3.67. Sky Quarry has a 52 week low of $1.10 and a 52 week high of $19.45. The company has a market capitalization of $24.46 million, a price-to-earnings ratio of -1.01 and a beta of 2.34.

Sky Quarry (NASDAQ:SKYQ) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.77) earnings per share (EPS) for the quarter. Sky Quarry had a negative net margin of 97.65% and a negative return on equity of 232.60%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Sky Quarry from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.