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

SI-BONE, Inc. (NASDAQ:SIBN) was the target of a significant increase in short interest in 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 trading volume of 382,900 shares, the days-to-cover ratio is currently 4.6 days. Approximately 4.4% of the shares of the stock are sold short.

SI-BONE Trading Down 0.9 %

NASDAQ:SIBN traded down $0.12 during midday trading on Monday, hitting $13.92. 46,378 shares of the company traded hands, compared to its average volume of 359,531. The firm has a market capitalization of $590.95 million, a P/E ratio of -15.14 and a beta of 1.17. The firm’s fifty day moving average is $16.41 and its 200-day moving average is $14.77. SI-BONE has a 12-month low of $11.70 and a 12-month high of $19.16. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last announced its earnings results 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. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. The business had revenue of $49.00 million for the quarter, compared to the consensus estimate of $48.87 million. On average, sell-side analysts predict that SI-BONE will post -0.78 EPS for the current year.

Insider Buying and Selling at SI-BONE

In other SI-BONE 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 value of $73,778.64. Following the sale, the chief financial officer now directly owns 189,319 shares in the company, valued at approximately $2,633,427.29. The trade was a 2.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anthony J. Recupero sold 3,670 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total transaction 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. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,311 shares of company stock valued at $130,356 over the last ninety days. 3.90% of the stock is currently owned by company insiders.

Institutional Trading of SI-BONE

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised 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 buying an additional 1,198 shares during the period. Virtus Fund Advisers LLC purchased a new stake in SI-BONE in the fourth quarter worth $40,000. Mainstream Capital Management LLC bought a new stake in shares of SI-BONE during the fourth quarter worth $53,000. R Squared Ltd bought a new stake in shares of SI-BONE during the fourth quarter worth $73,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of SI-BONE during the fourth quarter valued at $97,000. Institutional investors own 98.11% of the company’s stock.

Wall Street Analysts Forecast Growth

SIBN has been the subject of a number of research reports. Needham & Company LLC increased 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a report on Tuesday, February 25th. Finally, Truist Financial reaffirmed a “buy” rating and set a $22.00 price target (up previously from $18.00) on shares of SI-BONE in a research note on Tuesday, February 25th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target 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.