SI-BONE (NASDAQ:SIBN) Shares Up 8.1% – Should You Buy?

Shares of SI-BONE, Inc. (NASDAQ:SIBN) traded up 8.1% during trading on Monday . The stock traded as high as $14.99 and last traded at $14.83. 32,225 shares were traded during trading, a decline of 87% from the average session volume of 246,155 shares. The stock had previously closed at $13.72.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SIBN. Truist Financial boosted their price objective on SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and set a $19.00 price target on shares of SI-BONE in a research report on Monday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $23.00.

SI-BONE Price Performance

The firm has a market capitalization of $658.43 million, a price-to-earnings ratio of -17.07 and a beta of 1.16. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $13.73 and a two-hundred day moving average price of $14.24.

Insider Buying and Selling

In other news, CEO Laura Francis sold 10,048 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $12.58, for a total transaction of $126,403.84. Following the completion of the transaction, the chief executive officer now owns 482,875 shares in the company, valued at approximately $6,074,567.50. This represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anshul Maheshwari sold 5,304 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total transaction of $73,778.64. Following the completion of the sale, the chief financial officer now directly owns 189,319 shares in the company, valued at approximately $2,633,427.29. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,348 shares of company stock worth $356,349 in the last three months. 3.90% of the stock is owned by insiders.

Hedge Funds Weigh In On SI-BONE

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its position in SI-BONE by 103.6% in the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after acquiring an additional 1,198 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of SI-BONE during the second quarter valued at $61,000. Walleye Capital LLC acquired a new position in shares of SI-BONE during the third quarter valued at $144,000. Arizona State Retirement System raised its stake in shares of SI-BONE by 9.0% during the second quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after purchasing an additional 903 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new stake in SI-BONE in the second quarter worth about $151,000. 98.11% of the stock is currently owned by institutional investors and hedge funds.

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.