Sky Quarry Inc. (NASDAQ:SKYQ) Sees Large Decline in Short Interest

Sky Quarry Inc. (NASDAQ:SKYQ) saw a significant decline in short interest during 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. Based on an average daily volume of 1,699,332 shares, the short-interest ratio is presently 0.3 days. Currently, 5.6% of the company’s stock are sold short.

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 stake in Sky Quarry Inc. (NASDAQ:SKYQ) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,249,882 shares of the company’s stock, valued at approximately $1,387,000. JPMorgan Chase & Co. owned about 10.51% of Sky Quarry as of its most recent SEC filing.

Analysts Set New Price Targets

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

Sky Quarry Stock Performance

SKYQ traded up $0.14 during trading on Monday, hitting $2.77. The stock had a trading volume of 726,743 shares, compared to its average volume of 7,348,747. The stock has a 50 day simple moving average of $3.37 and a two-hundred day simple moving average of $3.67. Sky Quarry has a twelve month low of $1.10 and a twelve month high of $19.45. The company has a market capitalization of $24.46 million, a PE ratio of -1.01 and a beta of 2.34.

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

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.