Sky Quarry (NASDAQ:SKYQ) Shares Down 7.7% – Here’s What Happened

Sky Quarry Inc. (NASDAQ:SKYQ)’s stock price traded down 7.7% during mid-day trading on Monday . The company traded as low as $0.33 and last traded at $0.3323. 345,735 shares traded hands during trading, a decline of 76% from the average session volume of 1,417,587 shares. The stock had previously closed at $0.36.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sky Quarry in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Sky Quarry Stock Down 7.7%

The firm has a market capitalization of $8.23 million, a PE ratio of -0.54 and a beta of -0.88. The firm’s fifty day simple moving average is $0.35 and its 200-day simple moving average is $0.42.

Insider Activity

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 $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 available through the SEC website. 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. bought a new position in Sky Quarry Inc. (NASDAQ:SKYQ) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.