Sky Quarry Inc. (NASDAQ:SKYQ – Get Free Report) was the recipient of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 1,717,336 shares, a decline of 37.9% from the February 26th total of 2,764,552 shares. Currently, 49.4% of the company’s stock are short sold. Based on an average daily volume of 4,734,128 shares, the days-to-cover ratio is presently 0.4 days.
Wall Street Analyst Weigh In
Several equities analysts have commented on SKYQ shares. Wall Street Zen upgraded shares of Sky Quarry to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Sky Quarry in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.
Read Our Latest Report on Sky Quarry
Sky Quarry Stock Down 8.2%
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 shares of Sky Quarry Inc. (NASDAQ:SKYQ – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,249,882 shares of the company’s stock, valued at approximately $1,387,000. JPMorgan Chase & Co. owned 10.51% of Sky Quarry at the end of the most recent reporting period.
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.
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