Sky Quarry Inc. (NASDAQ:SKYQ) Sees Significant Growth in Short Interest

Sky Quarry Inc. (NASDAQ:SKYQ) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 3,245,022 shares, an increase of 32.8% from the December 31st total of 2,443,957 shares. Based on an average trading volume of 33,414,232 shares, the short-interest ratio is currently 0.1 days. Currently, 14.1% of the shares of the stock are sold short. Currently, 14.1% of the shares of the stock are sold short. Based on an average trading volume of 33,414,232 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

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

Insider Activity

In other news, CEO David Sealock sold 100,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Sky Quarry

An institutional investor recently bought a new position in Sky Quarry stock. JPMorgan Chase & Co. purchased a new stake in Sky Quarry Inc. (NASDAQ:SKYQ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 SEC filing.

Sky Quarry Trading Down 9.8%

NASDAQ:SKYQ opened at $0.27 on Wednesday. Sky Quarry has a 1-year low of $0.21 and a 1-year high of $1.94. The firm has a market capitalization of $6.69 million, a price-to-earnings ratio of -0.44 and a beta of -0.85. The business’s 50-day moving average price is $0.36 and its two-hundred day moving average price is $0.44.

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

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.