SI-BONE (NASDAQ:SIBN) Stock Price Up 5.5%

SI-BONE, Inc. (NASDAQ:SIBN)’s share price rose 5.5% during mid-day trading on Tuesday . The company traded as high as $15.80 and last traded at $15.28. Approximately 138,373 shares changed hands during trading, a decline of 68% from the average daily volume of 427,271 shares. The stock had previously closed at $14.48.

Wall Street Analysts Forecast Growth

SIBN has been the subject of a number of recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $24.00 target price (down previously from $26.00) on shares of SI-BONE in a research report on Tuesday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price target on shares of SI-BONE in a report on Tuesday, February 27th. Piper Sandler assumed coverage on SI-BONE in a report on Thursday, March 28th. They set an “overweight” rating and a $25.00 price target for the company. Morgan Stanley cut their price target on SI-BONE from $26.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, JMP Securities reiterated a “market outperform” rating and set a $32.00 price target on shares of SI-BONE in a report on Tuesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SI-BONE currently has a consensus rating of “Buy” and a consensus price target of $27.29.

SI-BONE Stock Performance

The stock has a market capitalization of $646.02 million, a P/E ratio of -13.54 and a beta of 1.24. The firm has a 50-day moving average of $15.87 and a 200 day moving average of $18.02. The company has a quick ratio of 8.15, a current ratio of 9.01 and a debt-to-equity ratio of 0.21.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. The company had revenue of $38.86 million during the quarter, compared to analysts’ expectations of $38.60 million. SI-BONE had a negative return on equity of 28.22% and a negative net margin of 31.20%. Research analysts anticipate that SI-BONE, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at SI-BONE

In other news, CFO Anshul Maheshwari sold 2,425 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.45, for a total value of $37,466.25. Following the completion of the sale, the chief financial officer now directly owns 205,516 shares in the company, valued at $3,175,222.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other SI-BONE news, Director Mika Nishimura sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total value of $40,550.00. Following the sale, the director now owns 19,350 shares in the company, valued at approximately $313,857. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anshul Maheshwari sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total value of $37,466.25. Following the completion of the sale, the chief financial officer now owns 205,516 shares in the company, valued at approximately $3,175,222.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,905 shares of company stock valued at $190,273. 5.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SIBN. RiverPark Advisors LLC increased its holdings in shares of SI-BONE by 22.6% during the 4th quarter. RiverPark Advisors LLC now owns 3,151 shares of the company’s stock worth $66,000 after acquiring an additional 580 shares during the last quarter. Amalgamated Bank increased its holdings in shares of SI-BONE by 12.9% during the 4th quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock worth $123,000 after acquiring an additional 673 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of SI-BONE by 7.7% during the 4th quarter. Arizona State Retirement System now owns 10,675 shares of the company’s stock worth $224,000 after acquiring an additional 762 shares during the last quarter. Swiss National Bank increased its holdings in shares of SI-BONE by 1.1% during the 3rd quarter. Swiss National Bank now owns 76,600 shares of the company’s stock worth $1,627,000 after acquiring an additional 800 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of SI-BONE by 14.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,541 shares of the company’s stock worth $179,000 after acquiring an additional 1,106 shares during the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

SI-BONE Company Profile

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.