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

SI-BONE, Inc. (NASDAQ:SIBN) saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 1,920,000 shares, a drop of 16.5% from the June 30th total of 2,300,000 shares. Based on an average trading volume of 366,000 shares, the days-to-cover ratio is currently 5.2 days.

SI-BONE Price Performance

Shares of NASDAQ:SIBN opened at $16.16 on Monday. SI-BONE has a 1-year low of $11.76 and a 1-year high of $26.03. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.76 and a quick ratio of 8.75. The business has a fifty day moving average price of $13.92 and a 200-day moving average price of $16.12. The company has a market capitalization of $665.95 million, a PE ratio of -14.83 and a beta of 1.20.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, May 6th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.02. SI-BONE had a negative return on equity of 25.14% and a negative net margin of 29.93%. The firm had revenue of $37.87 million during the quarter, compared to the consensus estimate of $36.45 million. As a group, equities analysts expect that SI-BONE will post -0.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SIBN. Needham & Company LLC reiterated a “buy” rating and issued a $27.00 price objective on shares of SI-BONE in a report on Tuesday, May 7th. Morgan Stanley decreased their price objective on SI-BONE from $25.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $32.00 price objective on shares of SI-BONE in a report on Tuesday, May 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $25.67.

Insider Buying and Selling

In related news, CFO Anshul Maheshwari sold 2,441 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.14, for a total value of $36,956.74. Following the completion of the sale, the chief financial officer now owns 204,241 shares of the company’s stock, valued at $3,092,208.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SI-BONE news, insider Anthony J. Recupero sold 3,941 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.10, for a total value of $59,509.10. Following the completion of the transaction, the insider now owns 247,592 shares in the company, valued at $3,738,639.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Anshul Maheshwari sold 2,441 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.14, for a total value of $36,956.74. Following the completion of the transaction, the chief financial officer now owns 204,241 shares of the company’s stock, valued at approximately $3,092,208.74. The disclosure for this sale can be found here. Insiders sold 11,956 shares of company stock valued at $172,555 over the last quarter. 5.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On SI-BONE

Several institutional investors have recently modified their holdings of SIBN. Amalgamated Bank boosted its position in shares of SI-BONE by 12.9% during the fourth quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock valued at $123,000 after buying an additional 673 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of SI-BONE during the second quarter valued at $152,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of SI-BONE by 14.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,541 shares of the company’s stock valued at $179,000 after buying an additional 1,106 shares during the last quarter. RiverPark Advisors LLC boosted its position in shares of SI-BONE by 260.4% during the first quarter. RiverPark Advisors LLC now owns 11,357 shares of the company’s stock valued at $186,000 after buying an additional 8,206 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of SI-BONE by 7.7% during the fourth quarter. Arizona State Retirement System now owns 10,675 shares of the company’s stock valued at $224,000 after buying an additional 762 shares during 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.