Sky Quarry Stock Scheduled to Reverse Split on Monday, March 16th (NASDAQ:SKYQ)

Sky Quarry Inc. (NASDAQ:SKYQ)’s stock is set to reverse split on the morning of Monday, March 16th. The 1-8 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, March 15th.

Sky Quarry Stock Performance

Shares of Sky Quarry stock opened at $0.35 on Thursday. The business has a 50-day simple moving average of $0.38 and a 200-day simple moving average of $0.41. Sky Quarry has a one year low of $0.21 and a one year high of $1.94. The company has a market cap of $10.49 million, a PE ratio of -0.57 and a beta of -1.68.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated 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 MarketBeat, the stock has a consensus rating of “Sell”.

Hedge Funds Weigh In On Sky Quarry

A hedge fund recently bought a new stake in Sky Quarry stock. JPMorgan Chase & Co. bought a new stake in Sky Quarry Inc. (NASDAQ:SKYQ) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,249,882 shares of the company’s stock, valued at approximately $1,387,000. JPMorgan Chase & Co. owned approximately 10.51% of Sky Quarry at the end of the most recent quarter.

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.