In the last trading session, 1.74 million Skye Bioscience Inc (NASDAQ:SKYE) shares changed hands as the company’s beta touched 1.96. With the company’s per share price at $3.74 changed hands at -$0.44 or -10.53% during last session, the market valuation stood at $115.88M. SKYE’s last price was a discount, traded about -120.86% off its 52-week high of $8.26. The share price had its 52-week low at $1.14, which suggests the last value was 69.52% up since then. When we look at Skye Bioscience Inc’s average trading volume, we note the 10-day average is 3.72 million shares, with the 3-month average coming to 1.23 million.
Analysts gave the Skye Bioscience Inc (SKYE) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended SKYE as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight.
Skye Bioscience Inc (NASDAQ:SKYE) trade information
Instantly SKYE was in red as seen at the end of in last trading. With action 3.31%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -48.48%, with the 5-day performance at 3.31% in the green. However, in the 30-day time frame, Skye Bioscience Inc (NASDAQ:SKYE) is 88.89% up. Looking at the short shares, we see there were 2.82 million shares sold at short interest cover period of 12.09 days.
The consensus price target for the stock as assigned by Wall Street analysts is 20, meaning bulls need an upside of 81.3% from its current market value. According to analyst projections, SKYE’s forecast low is 15 with 21 as the target high. To hit the forecast high, the stock’s price needs a -461.5% plunge from its current level, while the stock would need to soar -301.07% for it to hit the projected low.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 42.99%. The 2025 estimates are for Skye Bioscience Inc earnings to decrease by -66.59%.
SKYE Dividends
Skye Bioscience Inc is expected to release its next quarterly earnings report on 2025-May-08.
Skye Bioscience Inc (NASDAQ:SKYE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.44% of Skye Bioscience Inc shares while 80.79% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 81.98%. There are 80.79% institutions holding the Skye Bioscience Inc stock share, with 5AM VENTURE MANAGEMENT, LLC the top institutional holder. As of 2024-06-30, the company held 26.3245% of the shares, roughly 10.18 million SKYE shares worth $81.54 million.
VERSANT VENTURE MANAGEMENT, LLC holds the second largest percentage of outstanding shares, with 5.192% or 2.01 million shares worth $16.08 million as of 2024-06-30.
