At the time of writing, Skye Bioscience Inc [SKYE] stock is trading at $2.29, up 2.23%. 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 4.09% over the last week, with a monthly amount glided 2.23%, and seem to be holding up well over a long-time horizon.
From an analyst’s perspective:
Previously, Scotiabank started tracking the stock with Sector Outperform rating on September 30, 2024, and set its price target to $20. On September 10, 2024, JMP Securities initiated with a Mkt Outperform rating and assigned a price target of $15 on the stock. Craig Hallum started tracking the stock assigning a Buy rating and suggested a price target of $18 on July 09, 2024. Cantor Fitzgerald initiated its recommendation with a Overweight and recommended $21 as its price target on May 23, 2024. Oppenheimer started tracking with a Outperform rating for this stock on April 12, 2024, and assigned it a price target of $25.
For the past year, the stock price of Skye Bioscience Inc fluctuated between $1.14 and $12.10. Currently, Wall Street analysts expect the stock to reach $19 within the next 12 months. Skye Bioscience Inc [NASDAQ: SKYE] shares were valued at $2.29 at the most recent close of the market. An investor can expect a potential return of 729.69% based on the average SKYE price forecast.
Analyzing the SKYE fundamentals
To continue investigating profitability, this company’s Return on Assets is posted at -0.17, Equity is -0.75 and Total Capital is -0.0. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.01.
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 2.21 points at the first support level, and at 2.13 for the second support level. However, for the 1st resistance point, the stock is sitting at 2.41, and for the 2nd resistance point, it is at 2.53.
Ratios To Look Out For
It is important to note that Skye Bioscience Inc [NASDAQ:SKYE] has a current ratio of 11.85. In addition, the Quick Ratio stands at 11.85 and the Cash Ratio stands at 8.73.
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.
