SI-BONE, Inc. (NASDAQ:SIBN) Short Interest Up 17.8% in February

SI-BONE, Inc. (NASDAQ:SIBN) was the recipient of a large increase in short interest in the month of 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 daily volume of 364,300 shares, the short-interest ratio is presently 3.5 days. Approximately 3.1% of the shares of the stock are short sold.

Insider Buying and Selling at SI-BONE

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

Institutional Investors Weigh In On SI-BONE

Large investors have recently modified their holdings of the stock. Champlain Investment Partners LLC lifted its holdings in SI-BONE by 14.7% in the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock worth $39,145,000 after buying an additional 358,821 shares during the period. American Century Companies Inc. raised its position in shares of SI-BONE by 11.0% in the 4th quarter. American Century Companies Inc. now owns 2,378,068 shares of the company’s stock worth $33,341,000 after acquiring an additional 236,167 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in shares of SI-BONE by 21.9% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,953,806 shares of the company’s stock valued at $27,392,000 after purchasing an additional 350,970 shares during the period. Bellevue Group AG boosted its position in shares of SI-BONE by 4.1% during the third quarter. Bellevue Group AG now owns 1,444,109 shares of the company’s stock valued at $20,189,000 after purchasing an additional 56,500 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY grew its stake in SI-BONE by 5.3% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,386,031 shares of the company’s stock worth $19,432,000 after purchasing an additional 69,831 shares during the period. Institutional investors own 98.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Needham & Company LLC increased their target price on SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Truist Financial reissued a “buy” rating and set a $22.00 price objective (up previously from $18.00) on shares of SI-BONE in a research note on Tuesday, February 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a research note on Tuesday, February 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $24.50.

SI-BONE Trading Down 2.8 %

SIBN opened at $14.80 on Wednesday. The firm has a market capitalization of $628.13 million, a price-to-earnings ratio of -16.08 and a beta of 1.17. SI-BONE has a one year low of $11.70 and a one year high of $19.16. The business has a 50 day simple moving average of $16.57 and a two-hundred day simple moving average of $14.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22.

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

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.