Short Interest in SI-BONE, Inc. (NASDAQ:SIBN) Expands By 17.8%

SI-BONE, Inc. (NASDAQ:SIBN) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,260,000 shares, a growth of 17.8% from the February 13th total of 1,070,000 shares. Approximately 3.1% of the company’s stock are short sold. Based on an average daily volume of 364,300 shares, the days-to-cover ratio is currently 3.5 days.

SI-BONE Trading Down 2.8 %

Shares of SIBN stock opened at $14.80 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. The company has a market capitalization of $628.13 million, a price-to-earnings ratio of -16.08 and a beta of 1.17. SI-BONE has a 52-week low of $11.70 and a 52-week high of $19.16. The company has a 50-day simple moving average of $16.57 and a two-hundred day simple moving average of $14.83.

SI-BONE (NASDAQ:SIBN) last released its 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. The company had revenue of $49.00 million during the quarter, compared to analyst estimates of $48.87 million. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. Research analysts anticipate that SI-BONE will post -0.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SIBN shares. Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 target price on shares of SI-BONE in a research report on Tuesday, February 25th. Needham & Company LLC lifted their price target on 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 reissued a “buy” rating and issued a $22.00 price objective (up from $18.00) on shares of SI-BONE in a research note on Tuesday, February 25th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, SI-BONE presently has an average rating of “Buy” and a consensus target price of $24.50.

Insiders Place Their Bets

In other news, CFO Anshul Maheshwari sold 5,304 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 189,319 shares of the company’s stock, valued at $2,633,427.29. This represents a 2.73 % decrease in their ownership of the stock. The sale 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 stock in a transaction on Thursday, January 2nd. The stock was 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 in the company, valued at approximately $3,097,114.60. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,311 shares of company stock worth $130,356. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SI-BONE

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of SI-BONE by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 315,092 shares of the company’s stock valued at $4,405,000 after buying an additional 5,966 shares in the last quarter. Champlain Investment Partners LLC lifted its position in shares of SI-BONE by 14.7% during 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. Millrace Asset Group Inc. bought a new position in shares of SI-BONE in the third quarter worth $1,056,000. FMR LLC boosted its holdings in shares of SI-BONE by 103.6% in the third quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after acquiring an additional 1,198 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of SI-BONE by 24.6% in the third quarter. BNP Paribas Financial Markets now owns 106,442 shares of the company’s stock valued at $1,488,000 after purchasing an additional 21,012 shares in the last quarter. 98.11% of the stock is owned by institutional investors.

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.