Metric Deep Dive: Understanding Skye Bioscience Inc (SKYE) Through its Ratios

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After finishing at $8.93 in the prior trading day, Skye Bioscience Inc (NASDAQ: SKYE) closed at $7.77, down -12.99%. In other words, the price has decreased by -$12.99 from its previous closing price. On the day, 1.09 million shares were traded. SKYE stock price reached its highest trading level at $8.99 during the session, while it also had its lowest trading level at $7.295.

Ratios:

Our goal is to gain a better understanding of SKYE by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 5.99 and its Current Ratio is at 5.99. In the meantime, Its Debt-to-Equity ratio is 0.06 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Cantor Fitzgerald on May 23, 2024, initiated with a Overweight rating and assigned the stock a target price of $21.

On April 12, 2024, Oppenheimer started tracking the stock assigning a Outperform rating and target price of $25.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, SKYE now has a Market Capitalization of 218087584 and an Enterprise Value of 139457376.

Stock Price History:

The Beta on a monthly basis for SKYE is 1.78, which has changed by 0.29499996 over the last 52 weeks, in comparison to a change of 0.26238096 over the same period for the S&P500. Over the past 52 weeks, SKYE has reached a high of $19.41, while it has fallen to a 52-week low of $1.44. The 50-Day Moving Average of the stock is -37.18%, while the 200-Day Moving Average is calculated to be 12.31%.

Shares Statistics:

The stock has traded on average 98.93K shares per day over the past 3-months and 457480 shares per day over the last 10 days, according to various share statistics. A total of 28.07M shares are outstanding, with a floating share count of 12.58M. Insiders hold about 55.17% of the company’s shares, while institutions hold 9.28% stake in the company. Shares short for SKYE as of 1715731200 were 232398 with a Short Ratio of 3.91, compared to 1713139200 on 46740. Therefore, it implies a Short% of Shares Outstanding of 232398 and a Short% of Float of 1.3200001.

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