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

Sky Quarry Inc. (NASDAQ:SKYQ) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 742,808 shares, a growth of 116.7% from the August 31st total of 342,750 shares. Approximately 8.9% of the shares of the stock are short sold. Based on an average daily volume of 4,665,474 shares, the short-interest ratio is currently 0.2 days.

Analysts Set New Price Targets

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

Sky Quarry Trading Down 2.5%

Shares of SKYQ traded down $0.07 during mid-day trading on Tuesday, reaching $2.54. 548,451 shares of the stock traded hands, compared to its average volume of 7,012,304. The company has a market cap of $22.38 million, a price-to-earnings ratio of -0.93 and a beta of 2.16. Sky Quarry has a 1 year low of $1.10 and a 1 year high of $19.45. The firm has a fifty day moving average price of $3.22 and a 200 day moving average price of $3.63.

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

Sky Quarry Company Profile

Sky Quarry, Inc is a waste-to-value company focused on converting difficult-to-recycle materials into usable energy and industrial products. Its business centers on processing waste asphalt shingles and other hydrocarbon-based materials that might otherwise be sent to landfills.

The company is developing and commercializing proprietary recycling and refining technologies intended to recover valuable hydrocarbons from these waste streams. Its targeted outputs include liquid fuels, asphalt-related products and other materials that can be used in industrial and infrastructure applications.

Sky Quarry’s operations are primarily focused in the United States, although publicly available information about its geographic footprint, commercial scale and leadership team is limited.