SI-BONE, Inc. (NASDAQ:SIBN) Short Interest Update

SI-BONE, Inc. (NASDAQ:SIBN) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 1,260,000 shares, an increase of 17.8% from the February 13th total of 1,070,000 shares. Based on an average trading volume of 364,300 shares, the short-interest ratio is currently 3.5 days. Approximately 3.1% of the company’s stock are sold short.

SI-BONE Trading Up 3.4 %

Shares of NASDAQ SIBN opened at $15.30 on Thursday. SI-BONE has a twelve month low of $11.70 and a twelve month high of $19.16. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The stock has a market cap of $649.53 million, a price-to-earnings ratio of -16.63 and a beta of 1.17. The company’s fifty day moving average is $16.59 and its 200-day moving average is $14.83.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, February 24th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.05. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. The company had revenue of $49.00 million during the quarter, compared to analysts’ expectations of $48.87 million. Equities research analysts predict that SI-BONE will post -0.78 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SIBN. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of SI-BONE in a report on Tuesday, February 25th. Truist Financial restated a “buy” rating and issued a $22.00 price objective (up from $18.00) on shares of SI-BONE in a research note on Tuesday, February 25th. Finally, Needham & Company LLC raised their target price on shares of SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, SI-BONE currently has an average rating of “Buy” and an average price target of $24.50.

Insider Activity

In other SI-BONE news, insider Anthony J. Recupero sold 3,670 shares of SI-BONE stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 in the company, valued at $3,097,114.60. The trade was a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anshul Maheshwari sold 5,304 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total transaction 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 $2,633,427.29. This represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,311 shares of company stock worth $130,356 in the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in shares of SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after acquiring an additional 1,198 shares during the period. Virtus Fund Advisers LLC acquired a new stake in SI-BONE during the fourth quarter worth approximately $40,000. Mainstream Capital Management LLC bought a new stake in shares of SI-BONE during the fourth quarter worth approximately $53,000. R Squared Ltd acquired a new stake in shares of SI-BONE during the fourth quarter worth $73,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of SI-BONE in the fourth quarter valued at about $97,000. 98.11% of the stock is owned by institutional investors.

About SI-BONE

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.