The stock price of Skye Bioscience Inc (NASDAQ: SKYE) has plunged by -9.49 when compared to previous closing price of 2.53, but the company has seen a -15.50% decline in its stock price over the last five trading sessions. globenewswire.com reported 2025-03-14 that SAN DIEGO, March 14, 2025 (GLOBE NEWSWIRE) — Skye Bioscience, Inc. (Nasdaq: SKYE) (“Skye”), a clinical-stage biotechnology company focused on unlocking new therapeutic pathways for obesity and other metabolic health disorders, will host a conference call on Thursday, March 20th at 1:30 p.m. PT/4:30 p.m. ET to discuss its 2024 fourth quarter and full-year financial results. An earnings press release will be issued after the market closes on March 20th.
Is It Worth Investing in Skye Bioscience Inc (NASDAQ: SKYE) Right Now?
The 36-month beta value for SKYE is also noteworthy at 1.72. There are mixed opinions on the stock, with 4 analysts rating it as a “buy,” 3 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for SKYE is 17.57M, and at present, short sellers hold a 12.33% of that float. The average trading volume of SKYE on March 19, 2025 was 172.22K shares.
SKYE’s Market Performance
SKYE stock saw a decrease of -15.50% in the past week, with a monthly decline of -27.53% and a quarterly a decrease of -31.64%. The volatility ratio for the week is 8.96%, and the volatility levels for the last 30 days are 9.18% for Skye Bioscience Inc (SKYE). The simple moving average for the last 20 days is -15.24% for SKYE stock, with a simple moving average of -53.27% for the last 200 days.
Analysts’ Opinion of SKYE
Scotiabank, on the other hand, stated in their research note that they expect to see SKYE reach a price target of $20. The rating they have provided for SKYE stocks is “Sector Outperform” according to the report published on September 30th, 2024.
JMP Securities gave a rating of “Mkt Outperform” to SKYE, setting the target price at $15 in the report published on September 10th of the previous year.
SKYE Trading at -19.49% 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 -87.02% of loss for the given period.
Volatility was left at 9.18%, however, over the last 30 days, the volatility rate increased by 8.96%, as shares sank -26.37% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -19.65% lower at present.
During the last 5 trading sessions, SKYE fell by -15.50%, which changed the moving average for the period of 200-days by -80.92% in comparison to the 20-day moving average, which settled at $2.70. In addition, Skye Bioscience Inc saw -19.08% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SKYE starting from Diep Tuan Tu, who sale 19,489 shares at the price of $4.99 back on Nov 18 ’24. After this action, Diep Tuan Tu now owns 82,259 shares of Skye Bioscience Inc, valued at $97,250 using the latest closing price.
Diep Tuan Tu, the Chief Development Officer of Skye Bioscience Inc, sale 85 shares at $5.55 during a trade that took place back on Nov 15 ’24, which means that Diep Tuan Tu is holding 101,748 shares at $472 based on the most recent closing price.
Stock Fundamentals for SKYE
Current profitability levels for the company are sitting at:
- -117.56 for the present operating margin
- 0.85 for the gross margin
The net margin for Skye Bioscience Inc stands at -110.77. The total capital return value is set at -0.3. Equity return is now at value -54.82, with -43.73 for asset returns.
Based on Skye Bioscience Inc (SKYE), the company’s capital structure generated 0.0 points at debt to capital in total, while cash flow to debt ratio is standing at -109.48. The debt to equity ratio resting at 0.0. The interest coverage ratio of the stock is -14.02.
Currently, EBITDA for the company is -13.55 million with net debt to EBITDA at 3.25. When we switch over and look at the enterprise to sales, we see a ratio of 11.75. The receivables turnover for the company is 52.14for trailing twelve months and the total asset turnover is 0.0. The liquidity ratio also appears to be rather interesting for investors as it stands at 14.19.
Conclusion
In summary, Skye Bioscience Inc (SKYE) has had a bad performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
