SI-BONE (NASDAQ:SIBN) Shares Gap Up – Here’s What Happened

SI-BONE, Inc. (NASDAQ:SIBN) gapped up before the market opened on Tuesday . The stock had previously closed at $14.82, but opened at $15.20. SI-BONE shares last traded at $15.04, with a volume of 36,545 shares.

Analyst Ratings Changes

Several analysts have commented on the company. Truist Financial restated a “buy” rating and issued a $22.00 price target (up previously from $18.00) on shares of SI-BONE in a report on Tuesday, February 25th. Needham & Company LLC lifted their price target on shares of SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a report 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 report on Tuesday, February 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $24.50.

SI-BONE Price Performance

The company’s fifty day moving average is $16.59 and its two-hundred day moving average is $14.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. The firm has a market cap of $624.91 million, a price-to-earnings ratio of -16.00 and a beta of 1.17.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $48.87 million. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. Equities research analysts forecast that SI-BONE, Inc. will post -0.78 EPS for the current year.

Insider Buying and Selling at SI-BONE

In related news, insider Anthony J. Recupero sold 3,670 shares of SI-BONE 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 of the company’s stock, valued at $3,097,114.60. The trade was a 1.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Anshul Maheshwari sold 5,304 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total transaction of $73,778.64. Following the completion of the transaction, the chief financial officer now directly owns 189,319 shares of the company’s stock, valued at approximately $2,633,427.29. The trade was a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,311 shares of company stock valued at $130,356 over the last 90 days. 3.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SI-BONE

Several hedge funds and other institutional investors have recently bought and sold shares of SIBN. Paradigm Capital Management Inc. NY increased its stake in shares of 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 buying an additional 69,831 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of SI-BONE by 8.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,666 shares of the company’s stock worth $1,439,000 after purchasing an additional 7,855 shares during the last quarter. Virtus Fund Advisers LLC acquired a new stake in shares of SI-BONE in the 4th quarter valued at about $40,000. Virtus Investment Advisers Inc. acquired a new stake in shares of SI-BONE in the 4th quarter valued at about $196,000. Finally, Squarepoint Ops LLC bought a new position in shares of SI-BONE during the fourth quarter worth about $449,000. 98.11% of the stock is currently 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.