Sky Quarry (NASDAQ:SKYQ) Trading Down 3.6% – Here’s Why

Sky Quarry Inc. (NASDAQ:SKYQ)’s stock price dropped 3.6% during trading on Tuesday . The stock traded as low as $0.43 and last traded at $0.47. Approximately 76,059 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 212,323 shares. The stock had previously closed at $0.49.

Sky Quarry Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 0.27 and a quick ratio of 0.22. The stock has a market cap of $10.57 million and a price-to-earnings ratio of -0.68. The firm has a fifty day moving average of $0.62 and a 200 day moving average of $0.72.

Sky Quarry (NASDAQ:SKYQ) last posted its earnings results on Thursday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter. The business had revenue of $4.54 million for the quarter. Sky Quarry had a negative return on equity of 147.63% and a negative net margin of 71.27%.

Institutional Trading of Sky Quarry

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new stake in shares of Sky Quarry in the 4th quarter valued at about $35,000. Millennium Management LLC acquired a new position in Sky Quarry during the 4th quarter worth approximately $59,000. XTX Topco Ltd acquired a new stake in shares of Sky Quarry in the 4th quarter worth approximately $43,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Sky Quarry in the 2nd quarter worth approximately $1,387,000.

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.