Short Interest in Sky Quarry Inc. (NASDAQ:SKYQ) Drops By 41.9%

Sky Quarry Inc. (NASDAQ:SKYQ) saw 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. Based on an average trading volume of 1,699,332 shares, the short-interest ratio is currently 0.3 days. Currently, 5.6% of the shares of the company are short sold.

Institutional Investors Weigh In On Sky Quarry

A hedge fund recently bought a new position in Sky Quarry stock. JPMorgan Chase & Co. purchased a new position in shares of Sky Quarry Inc. (NASDAQ:SKYQ) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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 at the end of the most recent quarter.

Wall Street Analyst Weigh In

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

Sky Quarry Stock Up 6.0%

SKYQ stock opened at $2.83 on Wednesday. Sky Quarry has a 12 month low of $1.10 and a 12 month high of $19.45. The firm has a market cap of $24.99 million, a P/E ratio of -1.04 and a beta of 2.17. The company’s 50-day moving average price is $3.40 and its two-hundred day moving average price is $3.67.

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

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.