Boston, MA 06/10/2013 (wallstreetpr) – The share prices of Skystar Bio Pharmaceutical Company (NASDAQ:SKBI) had declined by 10.14 percent to close at $1.33 per share for the end of last trading session on Friday. The shares of the company had been trading in the range of $1.32 to $1.44 during the day, which was observed to be very close to its 52 week low price level of $1.00 per share. The shares of Skystar Bio Pharmaceutical Company (NASDAQ:SKBI) had recorded 52 week low high price level of $2.39 per share.
Skystar Bio Pharmaceutical Company (NASDAQ:SKBI) is primarily engaged in the development and commercialization of pharmaceutical and healthcare products related to veterinary care. The company operates its business through four major segments namely micro organism product line, veterinary medicine line, feed additives line and bio pharmaceutical veterinary vaccine line. All the research and development operations of Skystar Bio Pharmaceutical Company (NASDAQ:SKBI) are carried out through the joint stock company based in the People’s Republic of China in which the company holds contractual ownership.
Skystar Bio Pharmaceutical Company (NASDAQ:SKBI) had recently released the financial results for the first quarter of fiscal year 2013, in which it had reported a net income of $0.7 million which translates into $0.09 gain per basic and diluted share compared to $1.9 million or $0.26 gain per basic and diluted share for the same quarter of previous year.
The shares of Skystar Bio Pharmaceutical Company (NASDAQ:SKBI) had recently been experiencing heavy trading volumes with nearly 37,506 shares being exchanged hands on Friday, while the average trading volume of the company is at 25,244 shares per day. The veterinary care products based bio pharmaceutical company presently holds 7.60 million shares outstanding in the market with an institutional ownership of 4 percent of its holdings.
