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

SI-BONE, Inc. (NASDAQ:SIBN) shares saw strong trading volume on Tuesday . 657,680 shares traded hands 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.

Wall Street Analysts Forecast Growth

SIBN has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 target price on shares of SI-BONE in a research report on Monday, January 13th. Truist Financial upped their target price on SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $23.00.

SI-BONE Stock Performance

The stock has a 50-day simple moving average of $15.57 and a 200-day simple moving average of $14.63. The company has a market capitalization of $754.88 million, a price-to-earnings ratio of -19.57 and a beta of 1.17. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22.

Insider Activity at SI-BONE

In related news, insider Anthony J. Recupero sold 3,670 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total transaction of $51,013.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Anshul Maheshwari sold 5,304 shares of the company’s stock in a transaction that occurred on 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 directly owns 189,319 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 9,311 shares of company stock valued at $130,356. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in SI-BONE by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,373 shares of the company’s stock worth $328,000 after buying an additional 988 shares during the last quarter. FMR LLC grew its stake in 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 buying an additional 1,198 shares during the last quarter. Invesco Ltd. grew its stake in SI-BONE by 8.9% during the 4th quarter. Invesco Ltd. now owns 17,203 shares of the company’s stock worth $241,000 after buying an additional 1,413 shares during the last quarter. Rhumbline Advisers grew its stake in SI-BONE by 3.0% during the 4th quarter. Rhumbline Advisers now owns 57,621 shares of the company’s stock worth $808,000 after buying an additional 1,683 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of SI-BONE by 9.4% in the third quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock worth $265,000 after purchasing an additional 1,745 shares in the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

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.