While Skye Bioscience Inc has overperformed by 3.38%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SKYE fell by -79.58%, with highs and lows ranging from $10.95 to $1.14, whereas the simple moving average fell by -33.57% in the last 200 days.
On February 28, 2025, William Blair started tracking Skye Bioscience Inc (NASDAQ: SKYE) recommending Outperform. A report published by Scotiabank on September 30, 2024, Initiated its previous ‘Sector Outperform’ rating for SKYE. JMP Securities also rated SKYE shares as ‘Mkt Outperform’, setting a target price of $15 on the company’s shares in an initiating report dated September 10, 2024. Craig Hallum Initiated an Buy rating on July 09, 2024, and assigned a price target of $18. Cantor Fitzgerald initiated its ‘Overweight’ rating for SKYE, as published in its report on May 23, 2024. Oppenheimer’s report from April 12, 2024 suggests a price prediction of $25 for SKYE shares, giving the stock a ‘Outperform’ rating.
Analysis of Skye Bioscience Inc (SKYE)
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Skye Bioscience Inc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -47.27% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 11.85, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and SKYE is recording an average volume of 701.98K. On a monthly basis, the volatility of the stock is set at 7.71%, whereas on a weekly basis, it is put at 4.47%, with a loss of -1.38% over the past seven days. Furthermore, long-term investors anticipate a median target price of $16.67, showing growth from the present price of $2.14, which can serve as yet another indication of whether SKYE is worth investing in or should be passed over.
How Do You Analyze Skye Bioscience Inc Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 42.35%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 41.37% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
SKYE shares are owned by institutional investors to the tune of 41.37% at present.
