Sky Quarry (NASDAQ:SKYQ) Stock Price Down 3.7% – Time to Sell?

Sky Quarry Inc. (NASDAQ:SKYQ) shares dropped 3.7% on Friday . The stock traded as low as $1.77 and last traded at $1.82. Approximately 272,805 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 868,971 shares. The stock had previously closed at $1.89.

Wall Street Analysts Forecast Growth

SKYQ has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Sky Quarry to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings cut shares of Sky Quarry from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Sky Quarry has an average rating of “Sell”.

Sky Quarry Stock Down 3.7%

The firm has a market capitalization of $8.72 million, a PE ratio of -0.53 and a beta of 3.13. The company’s 50-day simple moving average is $4.84 and its 200 day simple moving average is $3.57.

Sky Quarry (NASDAQ:SKYQ) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.65) EPS for the quarter. The company had revenue of $0.00 million during the quarter. Sky Quarry had a negative net margin of 97.65% and a negative return on equity of 238.54%.

Hedge Funds Weigh In On Sky Quarry

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

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.