SI-BONE (NASDAQ:SIBN) Shares Gap Up – Still a Buy?

SI-BONE, Inc. (NASDAQ:SIBN)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $14.82, but opened at $15.20. SI-BONE shares last traded at $15.04, with a volume of 36,545 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price objective on shares of SI-BONE in a research report on Tuesday, February 25th. Needham & Company LLC raised their price objective on shares of SI-BONE from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Finally, Truist Financial reiterated a “buy” rating and set a $22.00 price target (up previously from $18.00) on shares of SI-BONE in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $24.50.

SI-BONE Stock Down 0.7 %

The business has a 50 day simple moving average of $16.59 and a 200 day simple moving average of $14.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22. The stock has a market cap of $624.91 million, a PE ratio of -16.00 and a beta of 1.17.

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

Insider Buying and Selling at SI-BONE

In other SI-BONE news, insider Anthony J. Recupero sold 3,670 shares of SI-BONE stock in a transaction that occurred 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 transaction, the insider now directly owns 222,814 shares of the company’s stock, valued at $3,097,114.60. The trade was a 1.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anshul Maheshwari sold 5,304 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total value of $73,778.64. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 9,311 shares of company stock worth $130,356 over the last three months. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On SI-BONE

Several large investors have recently bought and sold shares of the stock. Jane Street Group LLC raised its position in shares of SI-BONE by 29.0% during the third quarter. Jane Street Group LLC now owns 77,359 shares of the company’s stock valued at $1,081,000 after buying an additional 17,410 shares during the last quarter. Millrace Asset Group Inc. bought a new position in shares of SI-BONE during the third quarter valued at $1,056,000. Franklin Resources Inc. grew its holdings in shares of SI-BONE by 9.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock worth $265,000 after purchasing an additional 1,745 shares during the last quarter. State Street Corp grew its stake in SI-BONE by 5.1% during the third quarter. State Street Corp now owns 1,081,871 shares of the company’s stock worth $15,125,000 after buying an additional 52,972 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of SI-BONE by 35.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 841,045 shares of the company’s stock worth $11,791,000 after buying an additional 220,555 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors and hedge funds.

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.