SI-BONE, Inc. (NASDAQ:SIBN) Short Interest Up 17.8% in February

SI-BONE, Inc. (NASDAQ:SIBN) was the target of a significant growth in short interest during the month of 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. Currently, 3.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 364,300 shares, the days-to-cover ratio is presently 3.5 days.

SI-BONE Stock Down 2.2 %

SI-BONE stock opened at $14.96 on Friday. The firm has a market capitalization of $635.10 million, a price-to-earnings ratio of -16.26 and a beta of 1.17. The company’s 50 day simple moving average is $16.60 and its 200 day simple moving average is $14.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22. SI-BONE has a fifty-two week low of $11.70 and a fifty-two week high of $19.16.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. The company had revenue of $49.00 million for the quarter, compared to analyst estimates of $48.87 million. As a group, sell-side analysts anticipate that SI-BONE will post -0.78 EPS for the current year.

Insider Activity at SI-BONE

In other SI-BONE news, insider Anthony J. Recupero sold 3,670 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total value of $51,013.00. Following the transaction, the insider now directly owns 222,814 shares in the company, valued at approximately $3,097,114.60. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Anshul Maheshwari sold 5,304 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total value of $73,778.64. Following the sale, the chief financial officer now 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 position. The disclosure for this sale can be found here. Insiders sold 9,311 shares of company stock valued at $130,356 over the last ninety days. 3.90% of the stock is owned by insiders.

Hedge Funds Weigh In On SI-BONE

Large investors have recently added to or reduced their stakes in the company. Champlain Investment Partners LLC boosted its position in SI-BONE by 14.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock worth $39,145,000 after acquiring an additional 358,821 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of SI-BONE by 21.9% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,953,806 shares of the company’s stock valued at $27,392,000 after purchasing an additional 350,970 shares during the period. American Century Companies Inc. raised its stake in SI-BONE by 11.0% in the fourth quarter. American Century Companies Inc. now owns 2,378,068 shares of the company’s stock valued at $33,341,000 after buying an additional 236,167 shares during the period. Harbor Capital Advisors Inc. raised its stake in SI-BONE by 35.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 841,045 shares of the company’s stock valued at $11,791,000 after acquiring an additional 220,555 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of SI-BONE by 332.5% during the 4th quarter. Marshall Wace LLP now owns 264,523 shares of the company’s stock worth $3,709,000 after buying an additional 203,361 shares during the last quarter. Institutional investors own 98.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SIBN. Truist Financial restated a “buy” rating and set a $22.00 target price (up from $18.00) on shares of SI-BONE in a research report on Tuesday, February 25th. 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 note on Tuesday, February 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 target price on shares of SI-BONE in a report on Tuesday, February 25th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, SI-BONE has a consensus rating of “Buy” and an average target price 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.