While Skye Bioscience Inc has underperformed by -4.77%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SKYE rose by 55.12%, with highs and lows ranging from $7.47 to $1.14, whereas the simple moving average jumped by 41.93% 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)
Skye Bioscience Inc’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. 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.
For any stock, average volume can be an extremely valuable indicator of volatility, and SKYE is registering an average volume of 1.29M. On a monthly basis, the volatility of the stock is set at 15.56%, whereas on a weekly basis, it is put at 17.47%, with a gain of 6.81% over the past seven days. Furthermore, long-term investors anticipate a median target price of $16.67, showing growth from the present price of $4.39, 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?
Besides checking the fundamentals, you should also know how many employees own shares in the company. 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 41.27% 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 41.27% at present.
