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

Sky Quarry Inc. (NASDAQ:SKYQ) saw a significant increase in short interest in January. As of January 15th, there was short interest totaling 3,245,022 shares, an increase of 32.8% from the December 31st total of 2,443,957 shares. Currently, 14.1% of the company’s stock are short sold. Based on an average trading volume of 33,414,232 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 33,414,232 shares, the short-interest ratio is presently 0.1 days. Currently, 14.1% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sky Quarry in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Sky Quarry has an average rating of “Sell”.

Sky Quarry Stock Performance

Shares of SKYQ opened at $0.29 on Monday. The business’s 50-day moving average is $0.36 and its two-hundred day moving average is $0.45. The company has a market capitalization of $7.21 million, a P/E ratio of -0.48 and a beta of -0.88. Sky Quarry has a fifty-two week low of $0.21 and a fifty-two week high of $1.94.

Sky Quarry (NASDAQ:SKYQ) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.17) EPS for the quarter. The firm had revenue of $1.34 million for the quarter. Sky Quarry had a negative return on equity of 176.10% and a negative net margin of 82.54%.

Insider Transactions at Sky Quarry

In other news, CEO David Sealock sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $0.35, for a total transaction of $35,000.00. Following the transaction, the chief executive officer directly owned 415,572 shares of the company’s stock, valued at approximately $145,450.20. This represents a 19.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 158,467 shares of company stock valued at $58,591 over the last 90 days. 7.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sky Quarry stock. JPMorgan Chase & Co. acquired a new position in Sky Quarry Inc. (NASDAQ:SKYQ) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

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.