While Skye Bioscience Inc has overperformed by 11344065%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SKYE rose by 0.88%, with highs and lows ranging from $8.99 to $1.14, whereas the simple moving average fell by -10.39% 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)
To gain a thorough understanding of Skye Bioscience Inc’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. 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.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and SKYE is recording an average volume of 703.89K. On a monthly basis, the volatility of the stock is set at 7.26%, whereas on a weekly basis, it is put at 2.71%, with a gain of 39.27% over the past seven days. Furthermore, long-term investors anticipate a median target price of $16.67, showing decline from the present price of $703890.0, 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?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. 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.
