At the time of writing, Skye Bioscience Inc [SKYE] stock is trading at $3.10, up 0.98%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The SKYE shares have gain 9.54% over the last week, with a monthly amount drifted -16.67%, and not seem to be holding up well over a long-time horizon.
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.
For the past year, the stock price of Skye Bioscience Inc fluctuated between $2.25 and $19.41. Currently, Wall Street analysts expect the stock to reach $16.5 within the next 12 months. Skye Bioscience Inc [NASDAQ: SKYE] shares were valued at $3.10 at the most recent close of the market. An investor can expect a potential return of 432.26% based on the average SKYE price forecast.
Analyzing the SKYE fundamentals
Gross Profit Margin for this corporation currently stands at 0.85% with Operating Profit Margin at -117.56%, Pretax Profit Margin comes in at -110.71%, and Net Profit Margin reading is -110.77%. To continue investigating profitability, this company’s Return on Assets is posted at -0.26, Equity is -0.38 and Total Capital is -0.3.
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 2.96 points at the first support level, and at 2.81 for the second support level. However, for the 1st resistance point, the stock is sitting at 3.25, and for the 2nd resistance point, it is at 3.39.
Ratios To Look Out For
It is important to note that Skye Bioscience Inc [NASDAQ:SKYE] has a current ratio of 14.19. In addition, the Quick Ratio stands at 14.19 and the Cash Ratio stands at 11.99.
Transactions by insiders
Recent insider trading involved Diep Tuan Tu, Chief Development Officer, that happened on Nov 18 ’24 when 19489.0 shares were sold. Chief Development Officer, Diep Tuan Tu completed a deal on Nov 15 ’24 to sell 85.0 shares. Meanwhile, Chief Financial Officer ARSENAULT KAITLYN sold 43206.0 shares on Nov 18 ’24.
