The Future of Skye Bioscience Inc: Analyzing SKYE

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In terms of market performance, Skye Bioscience Inc had a somewhat regular. The highest value for the stock in the past year was $19.41 on 03/04/24, while the lowest value was $1.44 on 12/01/23.

52-week price history of SKYE Stock

Analyzing the 52-week price history of a stock, including its high and low prices, can provide valuable insight into its current status and potential future performance. Skye Bioscience Inc’s current trading price is -48.58% away from its 52-week high, while its distance from the 52-week low is 593.06%. The stock’s price range for this period has remained between $1.44 and $19.41. The Healthcare sector company’s shares managed to surpass a trading volume of around 1.27 million for the day, which was noticeably higher compared to the shares’ average daily volume of 48410.0 over the last three months.

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Financial Performance and Market Capitalization

Skye Bioscience Inc (SKYE) has experienced a quarterly decline of -0.20% in its revenues when compared to the same period in the previous year. Presently, the company has a total market capitalization of 280.14M and boasts a workforce of 11 employees.

Moving average and trading volume data

Based on Barchart.com data, the company’s moving average over the 100-day period was 10.71, with a change in price of +7.24. Similarly, Skye Bioscience Inc recorded 55,385 in trading volume during the last 100 days, posting a change of +264.23%.

SKYE Debt-to-equity ratio analysis

The debt-to-equity (D/E) ratio is a valuable metric that offers insight into a company’s financial health and standing in the market. This ratio is calculated by dividing a company’s current total liabilities by its shareholders’ equity. The D/E ratio illustrates the extent of debt a company is utilizing to support its assets in relation to the value of its shareholders’ equity. At the time of writing, the total D/E ratio for SKYE stands at 0.06. Similarly, the long-term debt-to-equity ratio is also 0.00.

SKYE Stock Stochastic Average

As of today, the raw stochastic average of Skye Bioscience Inc over the past 50 days is 25.54%. This is a decrease compared to the raw stochastic average of the last 20 days, which was recorded at 30.31%. Additionally, the Stochastic %K and %D values for the company were 24.39% and 26.32%, respectively, over the past 20 days.

SKYE Stock Price Performance Analysis

A mixed performance in the stock price over the year has left investors with either an optimistic or pessimistic outlook, depending on their point of view. The index has shown a price gain of 266.91% this year. Over the last six months, there has been a weaker performance of 136.49%. The price of SKYE leaped by -17.32% during the last 30 days period. For the last 5-days stocks have slided -16.56%.

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