KD Logo

Skye Bioscience Inc [SKYE] Shares Fall -0.47 % on Wednesday

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Skye Bioscience Inc shares valued at $97,250 were sold by Diep Tuan Tu on Nov 18 ’24. At $4.99 per share, Diep Tuan Tu sold 19,489 shares. The insider’s holdings dropped to 82,259 shares worth approximately $0.35 million following the completion of this transaction.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

Also, Diep Tuan Tu sold 85 shares, netting a total of over 472 in proceeds. Following the sale of shares at $5.55 each, the insider now holds 101,748 shares.

Before that, ARSENAULT KAITLYN had sold 43,206 shares from its account. In a trade valued at $215,598, the Chief Financial Officer traded Skye Bioscience Inc shares for $4.99 each. Upon closing the transaction, the insider’s holdings decreased to 43,206 shares, worth approximately $0.71 million.

As published in their initiating research note from Scotiabank on September 30, 2024, Skye Bioscience Inc [SKYE] has been a Sector outperform and the price target has been revised to $20. Analysts at JMP Securities started covering the stock with ‘”a Mkt outperform”‘ outlook in a report released in early September. As of July 09, 2024, Craig Hallum has initiated its “Buy” rating for SKYE. Earlier on May 23, 2024, Cantor Fitzgerald initiated its rating. Their recommendation was “an Overweight” for SKYE stock.

Analyzing SKYE Stock Performance

During the last five days, there has been a drop of approximately -0.47%. Over the course of the year, Skye Bioscience Inc shares have jumped approximately 56.62%. Shares of the company reached a 52-week high of $19.41 on 03/04/24 and a 52-week low of $2.25 on 01/25/24. A 50-day SMA is recorded $4.52, while a 200-day SMA reached $8.35. Nevertheless, trading volume fell to 76133.0 shares from 0.16 million shares the previous day.

Support And Resistance Levels for Skye Bioscience Inc (SKYE)

According to the 24-hour chart, there is a support level at 4.17, which, if violated, would cause prices to drop to 4.08. In the upper region, resistance lies at 4.35. The next price resistance is at 4.44. RSI (Relative Strength Index) is 39.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.54, which suggests the price will decrease in the coming days. Percent R is at 87.18%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Most Popular