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

SI-BONE, Inc. (NASDAQ:SIBN) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,270,000 shares, a decrease of 21.6% from the October 31st total of 1,620,000 shares. Based on an average daily trading volume, of 365,000 shares, the short-interest ratio is currently 3.5 days.

Wall Street Analysts Forecast Growth

SIBN has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price on shares of SI-BONE in a research report on Wednesday, November 20th. Truist Financial raised their target price on shares of SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley dropped their target price on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SI-BONE presently has a consensus rating of “Buy” and a consensus price target of $23.00.

Insider Buying and Selling

In other SI-BONE news, CFO Anshul Maheshwari sold 2,439 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $12.68, for a total value of $30,926.52. Following the completion of the sale, the chief financial officer now owns 194,623 shares of the company’s stock, valued at $2,467,819.64. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony J. Recupero sold 3,937 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $12.60, for a total value of $49,606.20. Following the sale, the insider now owns 228,554 shares of the company’s stock, valued at approximately $2,879,780.40. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,093 shares of company stock worth $299,558. Insiders own 3.90% of the company’s stock.

Institutional Trading of SI-BONE

A number of hedge funds have recently bought and sold shares of the stock. Champlain Investment Partners LLC increased its holdings in shares of 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 purchasing an additional 358,821 shares during the period. Vanguard Group Inc. increased its stake in SI-BONE by 1.8% during the first quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock valued at $40,328,000 after acquiring an additional 43,670 shares during the period. American Century Companies Inc. increased its stake in SI-BONE by 22.8% during the second quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after acquiring an additional 368,637 shares during the period. Bellevue Group AG raised its holdings in SI-BONE by 4.1% in the 3rd quarter. Bellevue Group AG now owns 1,444,109 shares of the company’s stock valued at $20,189,000 after acquiring an additional 56,500 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY lifted its position in shares of SI-BONE by 24.7% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,349,400 shares of the company’s stock worth $17,448,000 after acquiring an additional 267,100 shares during the period. 98.11% of the stock is owned by institutional investors.

SI-BONE Price Performance

SIBN opened at $13.27 on Friday. SI-BONE has a 1-year low of $11.70 and a 1-year high of $21.70. The business has a 50 day moving average of $13.56 and a 200-day moving average of $14.16. 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 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.