SI-BONE, Inc. (NASDAQ:SIBN) Sees Large Growth in Short Interest

SI-BONE, Inc. (NASDAQ:SIBN) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 1,260,000 shares, a growth 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 shares of the company are sold short.

SI-BONE Trading Up 3.4 %

NASDAQ:SIBN opened at $15.30 on Thursday. The stock has a fifty day simple moving average of $16.59 and a 200 day simple moving average of $14.83. The firm has a market capitalization of $649.53 million, a price-to-earnings ratio of -16.63 and a beta of 1.17. SI-BONE has a 1-year low of $11.70 and a 1-year 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.

SI-BONE (NASDAQ:SIBN) last announced its earnings results on Monday, February 24th. The company reported ($0.11) EPS 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. Sell-side analysts forecast that SI-BONE will post -0.78 earnings per share for the current year.

Insider Buying and Selling at SI-BONE

In other SI-BONE news, insider Anthony J. Recupero sold 3,670 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total transaction of $51,013.00. Following the transaction, the insider now owns 222,814 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anshul Maheshwari sold 5,304 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total transaction 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. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,311 shares of company stock valued at $130,356 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of SI-BONE

Several large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of SI-BONE by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,373 shares of the company’s stock valued at $328,000 after buying an additional 988 shares in the last quarter. FMR LLC boosted its position 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 acquiring an additional 1,198 shares during the period. 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 valued at $241,000 after acquiring an additional 1,413 shares in 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 valued at $808,000 after acquiring an additional 1,683 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position 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.

Wall Street Analyst Weigh In

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

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.