SI-BONE, Inc. (NASDAQ:SIBN) Short Interest Up 40.5% in March

SI-BONE, Inc. (NASDAQ:SIBN) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,770,000 shares, a growth of 40.5% from the February 28th total of 1,260,000 shares. Based on an average daily volume of 382,900 shares, the short-interest ratio is currently 4.6 days. Approximately 4.4% of the company’s stock are sold short.

SI-BONE Stock Performance

SIBN stock traded down $0.12 during trading on Monday, reaching $13.92. The stock had a trading volume of 46,378 shares, compared to its average volume of 359,531. The stock’s 50 day moving average is $16.41 and its two-hundred day moving average is $14.77. The firm has a market cap of $590.95 million, a PE ratio of -15.14 and a beta of 1.17. SI-BONE has a 52 week low of $11.70 and a 52 week high of $19.16. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $48.87 million. As a group, equities analysts anticipate that SI-BONE will post -0.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SIBN has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a report on Tuesday, February 25th. Truist Financial reiterated a “buy” rating and issued a $22.00 price objective (up from $18.00) on shares of SI-BONE in a report on Tuesday, February 25th. Finally, Needham & Company LLC upped their target price on shares of SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SI-BONE presently has an average rating of “Buy” and a consensus target price of $24.40.

Insider Transactions at SI-BONE

In related news, 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 value of $73,778.64. Following the transaction, the chief financial officer now owns 189,319 shares in the company, valued at $2,633,427.29. The trade was a 2.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the insider now owns 222,814 shares of the company’s stock, valued at approximately $3,097,114.60. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,311 shares of company stock valued at $130,356 in the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SI-BONE

Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 purchasing an additional 988 shares during the period. FMR LLC grew its stake in shares of SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after acquiring an additional 1,198 shares during the period. Invesco Ltd. increased its holdings in SI-BONE by 8.9% in the 4th quarter. Invesco Ltd. now owns 17,203 shares of the company’s stock worth $241,000 after acquiring an additional 1,413 shares in the last quarter. Rhumbline Advisers raised 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 acquiring an additional 1,683 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in SI-BONE by 9.4% during the third quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock valued at $265,000 after purchasing an additional 1,745 shares in the last quarter. 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.