SI-BONE, Inc. (NASDAQ:SIBN) Short Interest Update

SI-BONE, Inc. (NASDAQ:SIBN) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,270,000 shares, a decrease of 21.6% from the October 31st total of 1,620,000 shares. Based on an average trading volume of 365,000 shares, the days-to-cover ratio is presently 3.5 days.

SI-BONE Stock Performance

Shares of SIBN traded up $0.29 during mid-day trading on Friday, reaching $13.56. 147,807 shares of the company’s stock traded hands, compared to its average volume of 388,661. 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 business’s 50-day moving average price is $13.48 and its 200-day moving average price is $14.14. The stock has a market capitalization of $568.71 million, a P/E ratio of -14.74 and a beta of 1.22. SI-BONE has a 12 month low of $11.70 and a 12 month high of $21.70.

Insider Buying and Selling at SI-BONE

In other news, CFO Anshul Maheshwari sold 2,439 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $12.68, for a total value of $30,926.52. Following the completion of the sale, the chief financial officer now directly owns 194,623 shares in the company, valued at approximately $2,467,819.64. The trade was a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony J. Recupero sold 3,937 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $12.60, for a total value of $49,606.20. Following the sale, the insider now directly owns 228,554 shares in the company, valued at approximately $2,879,780.40. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,093 shares of company stock worth $299,558 in the last ninety days. 3.90% of the stock is owned by insiders.

Institutional Trading of SI-BONE

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of SI-BONE by 103.6% during the third quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after purchasing an additional 1,198 shares during the period. Canada Pension Plan Investment Board acquired a new position in SI-BONE during the 2nd quarter valued at about $61,000. Walleye Capital LLC bought a new stake in shares of SI-BONE during the 3rd quarter worth about $144,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of SI-BONE by 24.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock worth $138,000 after acquiring an additional 2,108 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of SI-BONE by 9.0% in the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock worth $141,000 after acquiring an additional 903 shares during the period. Institutional investors own 98.11% of the company’s stock.

Wall Street Analysts Forecast Growth

SIBN has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price target on shares of SI-BONE in a report on Wednesday, November 20th. Truist Financial increased their price target on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Morgan Stanley reduced their price objective on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $23.00.

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.