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

SI-BONE, Inc. (NASDAQ:SIBN) was the target of a large increase in short interest during the month of 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 volume of 382,900 shares, the short-interest ratio is currently 4.6 days. Approximately 4.4% of the company’s stock are sold short.

SI-BONE Price Performance

Shares of NASDAQ SIBN traded up $0.05 during trading on Friday, hitting $14.04. 259,995 shares of the company were exchanged, compared to its average volume of 360,765. 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 has a 1 year low of $11.70 and a 1 year high of $19.16. The company has a market cap of $596.04 million, a price-to-earnings ratio of -15.26 and a beta of 1.17. The firm’s fifty day moving average price is $16.41 and its 200 day moving average price is $14.77.

SI-BONE (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. The company had revenue of $49.00 million during the quarter, compared to the consensus estimate of $48.87 million. On average, sell-side analysts expect that SI-BONE will post -0.78 earnings per share for the current fiscal year.

Insider Transactions at SI-BONE

In related news, CFO Anshul Maheshwari sold 5,304 shares of SI-BONE stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total transaction of $73,778.64. Following the sale, the chief financial officer now directly owns 189,319 shares in the company, valued at $2,633,427.29. This trade represents a 2.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony J. Recupero sold 3,670 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total value of $51,013.00. Following the transaction, the insider now directly owns 222,814 shares in the company, valued at approximately $3,097,114.60. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,311 shares of company stock valued at $130,356. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in SI-BONE by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 315,092 shares of the company’s stock valued at $4,405,000 after acquiring an additional 5,966 shares during the last quarter. FMR LLC increased its stake in shares of SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after purchasing an additional 1,198 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of SI-BONE by 24.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 106,442 shares of the company’s stock worth $1,488,000 after purchasing an additional 21,012 shares during the last quarter. Walleye Capital LLC purchased a new stake in SI-BONE in the 3rd quarter valued at approximately $144,000. Finally, PDT Partners LLC acquired a new stake in SI-BONE during the 3rd quarter valued at $479,000. Institutional investors and hedge funds own 98.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SIBN shares. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 price target on shares of SI-BONE in a research report on Tuesday, February 25th. Needham & Company LLC boosted their target price on SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, Truist Financial reaffirmed a “buy” rating and set a $22.00 price target (up from $18.00) on shares of SI-BONE in a report on Tuesday, February 25th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $24.40.

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.