Sky Quarry (NASDAQ:SKYQ) Releases Quarterly Earnings Results

Sky Quarry (NASDAQ:SKYQ) announced its quarterly earnings results on Friday. The company reported ($0.17) earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $1.34 million for the quarter. Sky Quarry had a negative net margin of 71.27% and a negative return on equity of 147.63%.

Sky Quarry Stock Performance

Sky Quarry stock opened at $0.35 on Friday. Sky Quarry has a fifty-two week low of $0.33 and a fifty-two week high of $2.05. The stock’s 50 day simple moving average is $0.49 and its two-hundred day simple moving average is $0.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.10 and a current ratio of 0.27. The stock has a market cap of $8.11 million and a price-to-earnings ratio of -0.57.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sky Quarry in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Sky Quarry presently has an average rating of “Sell”.

Insider Transactions at Sky Quarry

In other news, CEO David Sealock sold 109,698 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $0.45, for a total transaction of $49,364.10. Following the sale, the chief executive officer owned 535,977 shares in the company, valued at approximately $241,189.65. The trade was a 16.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Darryl Delwo sold 110,000 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $0.73, for a total transaction of $80,300.00. Following the completion of the transaction, the chief financial officer owned 15,000 shares of the company’s stock, valued at approximately $10,950. The trade was a 88.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,668,753 shares of company stock worth $770,019. 7.20% of the stock is owned by company insiders.

Hedge Funds 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 the company in its most recent 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 reporting period.

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.