SI-BONE (NASDAQ:SIBN) Trading 4.5% Higher – Should You Buy?

SI-BONE, Inc. (NASDAQ:SIBN)’s stock price traded up 4.5% during mid-day trading on Tuesday . The company traded as high as $13.22 and last traded at $13.22. 46,517 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 389,201 shares. The stock had previously closed at $12.65.

Analyst Upgrades and Downgrades

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

SI-BONE Trading Up 0.6 %

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 firm’s 50 day simple moving average is $13.67 and its two-hundred day simple moving average is $14.18. The stock has a market cap of $533.90 million, a P/E ratio of -13.75 and a beta of 1.22.

Insider Activity

In other news, insider Anthony J. Recupero sold 3,305 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total transaction of $44,881.90. Following the completion of the transaction, the insider now owns 233,412 shares of the company’s stock, valued at approximately $3,169,734.96. The trade was a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Anshul Maheshwari sold 2,439 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $12.68, for a total transaction of $30,926.52. Following the transaction, the chief financial officer now directly owns 194,623 shares of the company’s stock, valued at approximately $2,467,819.64. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,093 shares of company stock valued at $299,558. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SI-BONE

Institutional investors have recently bought and sold shares of the stock. Champlain Investment Partners LLC raised its position in SI-BONE by 14.7% in the third 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 in the last quarter. Vanguard Group Inc. raised its position in SI-BONE by 1.8% in the first quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock worth $40,328,000 after acquiring an additional 43,670 shares in the last quarter. American Century Companies Inc. raised its position in SI-BONE by 22.8% in the second quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock worth $25,685,000 after acquiring an additional 368,637 shares in the last quarter. Bellevue Group AG raised its position in SI-BONE by 4.1% in the third quarter. Bellevue Group AG now owns 1,444,109 shares of the company’s stock worth $20,189,000 after acquiring an additional 56,500 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY raised its position in SI-BONE by 24.7% in the second 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 in the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

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.