Skye Bioscience Inc [NASDAQ: SKYE] jumped around 0.4 points on Tuesday, while shares priced at $1.71 at the close of the session, up 30.53%.
Compared to the average trading volume of 198.00K shares, SKYE reached a trading volume of 27319745 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Skye Bioscience Inc [SKYE]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SKYE shares is $17.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SKYE stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
William Blair have made an estimate for Skye Bioscience Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 28, 2025. While these analysts kept the previous recommendation, Scotiabank raised their target price to Sector Outperform. The new note on the price target was released on September 30, 2024, representing the official price target for Skye Bioscience Inc stock. Previously, the target price had yet another raise to $15, while JMP Securities analysts kept a Mkt Outperform rating on SKYE stock.
The Average True Range (ATR) for Skye Bioscience Inc is set at 0.39 The Price to Book ratio for the last quarter was 0.78, with the Price to Cash per share for the same quarter was set at 2.21.
How has SKYE stock performed recently?
Skye Bioscience Inc [SKYE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 42.50. With this latest performance, SKYE shares dropped by -32.41% in over the last four-week period, additionally sinking by -60.14% over the last 6 months – not to mention a drop of -86.75% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SKYE stock in for the last two-week period is set at 46.57, with the RSI for the last a single of trading hit 53.20, and the three-weeks RSI is set at 43.92 for Skye Bioscience Inc [SKYE]. The present Moving Average for the last 50 days of trading for this stock 2.3689, while it was recorded at 1.4240 for the last single week of trading, and 4.0670 for the last 200 days.
Skye Bioscience Inc [SKYE]: Deeper insight into the fundamentals
Skye Bioscience Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 16.32 and a Current Ratio set at 16.32.
Insider trade positions for Skye Bioscience Inc [SKYE]
There are presently around $81.32%, or 82.39%% of SKYE stock, in the hands of institutional investors. The top three institutional holders of SKYE stocks are: 5AM VENTURE MANAGEMENT, LLC with ownership of 10.18 million shares, which is approximately 26.3245%. VERSANT VENTURE MANAGEMENT, LLC, holding 2.01 million shares of the stock with an approximate value of $$16.08 million in SKYE stocks shares; and VERSANT VENTURE MANAGEMENT, LLC, currently with $$10.81 million in SKYE stock with ownership which is approximately 3.4914%.
