Sky Quarry (NASDAQ:SKYQ) Trading Down 3.2% – Time to Sell?

Sky Quarry Inc. (NASDAQ:SKYQ) dropped 3.2% during trading on Monday . The stock traded as low as $0.46 and last traded at $0.5018. Approximately 1,757,039 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 16,008,901 shares. The stock had previously closed at $0.5184.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sky Quarry in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Sky Quarry Stock Down 3.2%

The stock has a 50-day moving average of $0.36 and a 200 day moving average of $0.47. The stock has a market cap of $12.43 million, a PE ratio of -0.82 and a beta of -0.85.

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

Insider Transactions at Sky Quarry

In other Sky Quarry news, CEO David Sealock sold 100,000 shares of Sky Quarry stock in a transaction dated Wednesday, November 26th. The shares were 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 $145,450.20. The trade was a 19.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 350,000 shares of company stock worth $145,599 in the last ninety days. 7.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sky Quarry stock. JPMorgan Chase & Co. purchased a new stake in Sky Quarry Inc. (NASDAQ:SKYQ) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,249,882 shares of the company’s stock, valued at approximately $1,387,000. JPMorgan Chase & Co. owned 10.51% of Sky Quarry as of its most recent filing with the SEC.

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.