The stock price of Skye Bioscience Inc (NASDAQ: SKYE) has plunged by -8.24 when compared to previous closing price of 16.14, but the company has seen a 13.92% gain in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-19 that Small-cap stocks tend to outperform their larger brethren over time. After several years of underperformance, it looked like the little guys were going to start winning again.
Is It Worth Investing in Skye Bioscience Inc (NASDAQ: SKYE) Right Now?
The stock has a 36-month beta value of 1.67. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for SKYE is 12.58M, and at present, short sellers hold a 0.27% of that float. On April 23, 2024, the average trading volume of SKYE was 35.79K shares.
SKYE’s Market Performance
SKYE’s stock has seen a 13.92% increase for the week, with a 14.81% rise in the past month and a 543.91% gain in the past quarter. The volatility ratio for the week is 15.66%, and the volatility levels for the past 30 days are at 17.06% for Skye Bioscience Inc The simple moving average for the past 20 days is 10.59% for SKYE’s stock, with a 170.90% simple moving average for the past 200 days.
Analysts’ Opinion of SKYE
Many brokerage firms have already submitted their reports for SKYE stocks, with Oppenheimer repeating the rating for SKYE by listing it as a “Outperform.” The predicted price for SKYE in the upcoming period, according to Oppenheimer is $25 based on the research report published on April 12, 2024 of the current year 2024.
SKYE Trading at 24.93% from the 50-Day Moving Average
After a stumble in the market that brought SKYE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -23.70% of loss for the given period.
Volatility was left at 17.06%, however, over the last 30 days, the volatility rate increased by 15.66%, as shares surge +23.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +169.27% upper at present.
During the last 5 trading sessions, SKYE rose by +13.92%, which changed the moving average for the period of 200-days by +146.83% in comparison to the 20-day moving average, which settled at $13.53. In addition, Skye Bioscience Inc saw 444.49% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for SKYE
The total capital return value is set at -21.18.
Based on Skye Bioscience Inc (SKYE), the company’s capital structure generated 0.72 points at debt to capital in total, while cash flow to debt ratio is standing at -3.38. The debt to equity ratio resting at 2.61. The interest coverage ratio of the stock is -72.93.
Currently, EBITDA for the company is -12.09 million with net debt to EBITDA at 0.05. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.84.
Conclusion
To sum up, Skye Bioscience Inc (SKYE) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
