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

SI-BONE, Inc. (NASDAQ:SIBN) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,770,000 shares, an increase of 40.5% from the February 28th total of 1,260,000 shares. Based on an average daily trading volume, of 382,900 shares, the days-to-cover ratio is presently 4.6 days. Currently, 4.4% of the company’s shares are short sold.

SI-BONE Trading Up 0.4 %

Shares of SI-BONE stock traded up $0.05 during trading hours on Friday, hitting $14.04. The company’s stock had a trading volume of 259,995 shares, compared to its average volume of 360,765. The business has a fifty day moving average of $16.41 and a 200 day moving average of $14.77. SI-BONE has a 1-year low of $11.70 and a 1-year high of $19.16. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $596.04 million, a PE ratio of -15.26 and a beta of 1.17.

SI-BONE (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $49.00 million during the quarter, compared to the consensus estimate of $48.87 million. As a group, equities analysts forecast that SI-BONE will post -0.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SIBN. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a research report on Tuesday, February 25th. Needham & Company LLC boosted 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, Truist Financial reaffirmed a “buy” rating and issued a $22.00 target price (up from $18.00) on shares of SI-BONE in a research report on Tuesday, February 25th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $24.40.

Insider Transactions at SI-BONE

In other news, CFO Anshul Maheshwari sold 5,304 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total transaction of $73,778.64. Following the sale, the chief financial officer now owns 189,319 shares in the company, valued at $2,633,427.29. This trade represents a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony J. Recupero sold 3,670 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total value of $51,013.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,311 shares of company stock worth $130,356 over the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SI-BONE

Several hedge funds have recently modified their holdings of the stock. Silvercrest Asset Management Group LLC grew its position in SI-BONE by 21.9% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,953,806 shares of the company’s stock valued at $27,392,000 after acquiring an additional 350,970 shares in the last quarter. American Century Companies Inc. grew its holdings in SI-BONE by 11.0% during the 4th quarter. American Century Companies Inc. now owns 2,378,068 shares of the company’s stock valued at $33,341,000 after purchasing an additional 236,167 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in SI-BONE by 35.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 841,045 shares of the company’s stock worth $11,791,000 after buying an additional 220,555 shares during the period. Marshall Wace LLP lifted its holdings in SI-BONE by 332.5% in 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 in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of SI-BONE by 17.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,263,988 shares of the company’s stock worth $17,721,000 after acquiring an additional 190,830 shares during 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.