SI-BONE (NASDAQ:SIBN) Trading 3.3% Higher

Shares of SI-BONE, Inc. (NASDAQ:SIBN) rose 3.3% during mid-day trading on Tuesday . The company traded as high as $15.54 and last traded at $15.53. Approximately 32,005 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 388,380 shares. The stock had previously closed at $15.03.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Needham & Company LLC decreased their target price on shares of SI-BONE from $27.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Truist Financial cut their price target on shares of SI-BONE from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Morgan Stanley dropped their target price on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $23.00.

SI-BONE Trading Down 3.8 %

The company’s 50-day moving average is $15.20 and its 200-day moving average is $15.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.12 and a current ratio of 9.17. The firm has a market cap of $628.69 million, a price-to-earnings ratio of -13.83 and a beta of 1.22.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.04. The business had revenue of $39.97 million for the quarter, compared to analysts’ expectations of $38.95 million. SI-BONE had a negative net margin of 27.10% and a negative return on equity of 24.27%. During the same period in the prior year, the firm earned ($0.30) earnings per share. On average, research analysts predict that SI-BONE, Inc. will post -0.89 earnings per share for the current year.

Insider Activity

In related news, insider Anthony J. Recupero sold 3,309 shares of SI-BONE stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $12.92, for a total transaction of $42,752.28. Following the completion of the sale, the insider now directly owns 243,629 shares of the company’s stock, valued at $3,147,686.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other SI-BONE news, insider Anthony J. Recupero sold 3,309 shares of SI-BONE stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $12.92, for a total transaction of $42,752.28. Following the transaction, the insider now directly owns 243,629 shares in the company, valued at $3,147,686.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Anshul Maheshwari sold 2,418 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.87, for a total value of $33,537.66. Following the completion of the transaction, the chief financial officer now owns 198,762 shares of the company’s stock, valued at $2,756,828.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,023 shares of company stock valued at $347,749. 5.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SIBN. Champlain Investment Partners LLC increased its stake in shares of SI-BONE by 104.8% during the 1st quarter. Champlain Investment Partners LLC now owns 2,453,147 shares of the company’s stock worth $40,158,000 after purchasing an additional 1,255,610 shares during the last quarter. Bellevue Group AG increased its holdings in SI-BONE by 810.5% in the 1st quarter. Bellevue Group AG now owns 1,139,956 shares of the company’s stock valued at $18,661,000 after buying an additional 1,014,756 shares during the period. American Century Companies Inc. increased its stake in shares of SI-BONE by 22.8% in the 2nd quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after purchasing an additional 368,637 shares during the last quarter. Victory Capital Management Inc. acquired a new position in SI-BONE during the fourth quarter worth about $6,721,000. Finally, Paradigm Capital Management Inc. NY boosted its position in SI-BONE by 24.7% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,349,400 shares of the company’s stock valued at $17,448,000 after buying an additional 267,100 shares in the last quarter. Institutional investors own 98.11% of the company’s stock.

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.