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

SI-BONE, Inc. (NASDAQ:SIBN) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 1,920,000 shares, a decline of 16.5% from the June 30th total of 2,300,000 shares. Based on an average daily volume of 366,000 shares, the days-to-cover ratio is currently 5.2 days.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SIBN shares. Morgan Stanley lowered their price target on shares of SI-BONE from $25.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Needham & Company LLC reissued a “buy” rating and issued a $27.00 price target on shares of SI-BONE in a report on Tuesday, May 7th. Finally, JMP Securities restated a “market outperform” rating and set a $32.00 price objective on shares of SI-BONE in a report on Tuesday, May 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $25.67.

Insider Transactions at SI-BONE

In other SI-BONE news, insider Anthony J. Recupero sold 3,941 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.10, for a total transaction of $59,509.10. Following the completion of the sale, the insider now directly owns 247,592 shares in the company, valued at $3,738,639.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Anthony J. Recupero sold 3,309 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $12.92, for a total transaction of $42,752.28. Following the transaction, the insider now directly owns 243,629 shares of the company’s stock, valued at approximately $3,147,686.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony J. Recupero sold 3,941 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.10, for a total transaction of $59,509.10. Following the completion of the sale, the insider now directly owns 247,592 shares of the company’s stock, valued at approximately $3,738,639.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,956 shares of company stock worth $172,555. 5.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SI-BONE

Several institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank raised its position in shares of SI-BONE by 12.9% during the 4th quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock worth $123,000 after purchasing an additional 673 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of SI-BONE by 24.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock worth $138,000 after acquiring an additional 2,108 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of SI-BONE in the second quarter valued at approximately $152,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in SI-BONE by 14.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,541 shares of the company’s stock valued at $179,000 after acquiring an additional 1,106 shares in the last quarter. Finally, RiverPark Advisors LLC raised its stake in shares of SI-BONE by 260.4% during the first quarter. RiverPark Advisors LLC now owns 11,357 shares of the company’s stock valued at $186,000 after purchasing an additional 8,206 shares in the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

SI-BONE Stock Performance

NASDAQ:SIBN traded down $0.19 during trading hours on Tuesday, reaching $14.94. 303,737 shares of the stock were exchanged, compared to its average volume of 402,869. The stock has a market capitalization of $615.68 million, a P/E ratio of -13.88 and a beta of 1.20. The firm has a 50 day simple moving average of $13.93 and a 200-day simple moving average of $16.09. The company has a quick ratio of 8.75, a current ratio of 9.76 and a debt-to-equity ratio of 0.22. SI-BONE has a 52 week low of $11.76 and a 52 week high of $26.03.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.02. SI-BONE had a negative net margin of 29.93% and a negative return on equity of 25.14%. The firm had revenue of $37.87 million during the quarter, compared to the consensus estimate of $36.45 million. As a group, sell-side analysts forecast that SI-BONE will post -0.95 earnings per share for the current fiscal year.

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.