Sky Quarry (NASDAQ:SKYQ) Stock Price Up 6.5% – Time to Buy?

Shares of Sky Quarry Inc. (NASDAQ:SKYQ) rose 6.5% during mid-day trading on Friday. The stock traded as high as $2.01 and last traded at $1.98. 228,982 shares were traded during trading, a decline of 74% from the average session volume of 890,000 shares. The stock had previously closed at $1.86.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Sky Quarry in a research note on Tuesday, October 6th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Sky Quarry Trading Up 6.5%

The business has a fifty day simple moving average of $2.50 and a two-hundred day simple moving average of $3.33. The company has a market cap of $17.44 million, a PE ratio of -0.73 and a beta of 2.21.

Sky Quarry (NASDAQ:SKYQ) last released its earnings results on Thursday, August 13th. The company reported ($0.77) earnings per share (EPS) for the quarter.

About Sky Quarry

Sky Quarry, Inc is an environmental solutions company focused on converting difficult-to-recycle hydrocarbon-based waste into useful industrial products. Its primary feedstock is waste asphalt shingles, which contain asphalt, aggregates and other materials that can otherwise be sent to landfills.

The company is developing proprietary processing and recycling technologies designed to recover liquid asphalt and other petroleum-based products from these waste materials. The recovered products may be used in applications such as road paving, construction and industrial manufacturing, while the process is intended to reduce landfill waste and reliance on virgin raw materials.

Sky Quarry is based in the United States and has focused its development activities on building and commercializing its recycling platform.