SI-BONE (NASDAQ:SIBN) Sees Large Volume Increase – Here’s Why

Shares of SI-BONE, Inc. (NASDAQ:SIBN) saw strong trading volume on Tuesday . 657,680 shares were traded during trading, an increase of 113% from the previous session’s volume of 308,078 shares.The stock last traded at $17.46 and had previously closed at $16.39.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Truist Financial raised their target price on SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price on shares of SI-BONE in a research note on Monday, January 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat, SI-BONE currently has a consensus rating of “Buy” and an average price target of $23.00.

SI-BONE Stock Performance

The firm has a market capitalization of $754.88 million, a PE ratio of -19.57 and a beta of 1.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22. The firm has a fifty day moving average price of $15.57 and a 200 day moving average price of $14.63.

Insider Activity

In related news, CFO Anshul Maheshwari sold 5,304 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total value of $73,778.64. Following the completion of the sale, the chief financial officer now directly owns 189,319 shares of the company’s stock, valued at approximately $2,633,427.29. This represents a 2.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony J. Recupero sold 3,670 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total value of $51,013.00. Following the completion of the sale, the insider now directly owns 222,814 shares of the company’s stock, valued at approximately $3,097,114.60. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,311 shares of company stock valued at $130,356 over the last three months. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC lifted its stake in SI-BONE by 29.0% in the 3rd quarter. Jane Street Group LLC now owns 77,359 shares of the company’s stock worth $1,081,000 after acquiring an additional 17,410 shares in the last quarter. Millrace Asset Group Inc. purchased a new stake in SI-BONE in the 3rd quarter worth about $1,056,000. Champlain Investment Partners LLC lifted its stake in SI-BONE by 14.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock worth $39,145,000 after acquiring an additional 358,821 shares in the last quarter. Impax Asset Management Group plc lifted its stake in SI-BONE by 41.3% in the 3rd quarter. Impax Asset Management Group plc now owns 758,521 shares of the company’s stock worth $10,604,000 after acquiring an additional 221,604 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in SI-BONE by 9.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock worth $265,000 after acquiring an additional 1,745 shares in the last quarter. 98.11% of the stock is owned by hedge funds and other institutional investors.

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.