Skye Bioscience Inc [SKYE] stock prices are up 1.73% to $4.71 at the moment. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The SKYE shares have gain 15.16% over the last week, with a monthly amount glided 50.00%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Skye Bioscience Inc [NASDAQ: SKYE] stock has seen the most recent analyst activity on September 30, 2024, when Scotiabank initiated its Sector Outperform rating and assigned the stock a price target of $20. Previously, JMP Securities started tracking the stock with Mkt Outperform rating on September 10, 2024, and set its price target to $15. On July 09, 2024, Craig Hallum initiated with a Buy rating and assigned a price target of $18 on the stock. Cantor Fitzgerald started tracking the stock assigning a Overweight rating and suggested a price target of $21 on May 23, 2024. Oppenheimer initiated its recommendation with a Outperform and recommended $25 as its price target on April 12, 2024.
The stock price of Skye Bioscience Inc [SKYE] has been fluctuating between $1.44 and $19.41 over the past year. Currently, Wall Street analysts expect the stock to reach $19 within the next 12 months. Skye Bioscience Inc [NASDAQ: SKYE] shares were valued at $4.71 at the most recent close of the market. An investor can expect a potential return of 303.4% based on the average SKYE price forecast.
Analyzing the SKYE fundamentals
Gross Profit Margin for this corporation currently stands at 0.7% with Operating Profit Margin at -226.06%, Pretax Profit Margin comes in at -220.47%, and Net Profit Margin reading is -220.53%. To continue investigating profitability, this company’s Return on Assets is posted at -0.48, Equity is -1.12 and Total Capital is -0.59. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.07.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 4.31 points at the first support level, and at 3.92 for the second support level. However, for the 1st resistance point, the stock is sitting at 5.29, and for the 2nd resistance point, it is at 5.88.
Ratios To Look Out For
It’s worth pointing out that Skye Bioscience Inc [NASDAQ:SKYE]’s Current Ratio is 6.07. As well, the Quick Ratio is 6.07, while the Cash Ratio is 5.18.
Transactions by insiders
Recent insider trading involved Schwab Andrew J., Director, that happened on Sep 11 ’24 when 0.25 million shares were sold. Director, Schwab Andrew J. completed a deal on Sep 13 ’24 to sell 13837.0 shares. Meanwhile, 10% Owner 5AM Partners VII, LLC sold 0.25 million shares on Sep 11 ’24.
