Sky Quarry (NASDAQ:SKYQ) Issues Quarterly Earnings Results

Sky Quarry (NASDAQ:SKYQ) issued its earnings results on Thursday. The company reported ($0.77) EPS for the quarter, Zacks reports. Sky Quarry had a negative net margin of 97.65% and a negative return on equity of 238.54%.

Sky Quarry Stock Performance

Sky Quarry stock traded up $0.11 during trading hours on Friday, hitting $2.85. The company had a trading volume of 1,071,721 shares, compared to its average volume of 7,819,937. The firm has a market cap of $13.63 million, a P/E ratio of -0.82 and a beta of 2.35. The company has a 50-day moving average price of $3.09 and a two-hundred day moving average price of $3.65. Sky Quarry has a 1 year low of $1.10 and a 1 year high of $19.45.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Sky Quarry from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Trading of Sky Quarry

A hedge fund 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 the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.