SI-BONE, Inc. (NASDAQ:SIBN) Short Interest Update

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on SIBN. JMP Securities reiterated a “market outperform” rating and set a $32.00 target price on shares of SI-BONE in a research report on Tuesday, May 7th. Needham & Company LLC restated a “buy” rating and set a $27.00 price target on shares of SI-BONE in a report on Tuesday, May 7th. Finally, 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. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $25.67.

SI-BONE Stock Performance

NASDAQ:SIBN opened at $16.16 on Monday. The company has a fifty day moving average of $13.92 and a 200-day moving average of $16.12. The firm has a market capitalization of $665.95 million, a P/E ratio of -14.83 and a beta of 1.20. 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 twelve month low of $11.76 and a twelve month high of $26.03.

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

Insider Activity

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

Institutional Trading of SI-BONE

Hedge funds have recently modified their holdings of the stock. Amalgamated Bank increased its stake in shares of SI-BONE by 12.9% in the 4th quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock valued at $123,000 after acquiring an additional 673 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in SI-BONE in the 2nd quarter valued at $152,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in SI-BONE by 14.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,541 shares of the company’s stock valued at $179,000 after purchasing an additional 1,106 shares during the period. RiverPark Advisors LLC grew its position in SI-BONE by 260.4% in the 1st 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 during the period. Finally, Arizona State Retirement System grew its position in SI-BONE by 7.7% in the 4th quarter. Arizona State Retirement System now owns 10,675 shares of the company’s stock valued at $224,000 after purchasing an additional 762 shares during the period. Institutional investors own 98.11% of the company’s stock.

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.