SI-BONE (NASDAQ:SIBN) Sets New 1-Year Low at $14.33

SI-BONE, Inc. (NASDAQ:SIBN) reached a new 52-week low on Thursday . The company traded as low as $14.33 and last traded at $14.33, with a volume of 31230 shares changing hands. The stock had previously closed at $15.08.

Wall Street Analysts Forecast Growth

SIBN has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $27.00 price target on shares of SI-BONE in a report on Wednesday, April 3rd. Piper Sandler initiated coverage on SI-BONE in a report on Thursday, March 28th. They set an “overweight” rating and a $25.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price target on shares of SI-BONE in a report on Tuesday, February 27th. Truist Financial reiterated a “buy” rating and set a $24.00 price target (down from $26.00) on shares of SI-BONE in a report on Tuesday, February 27th. Finally, Morgan Stanley increased their price target on SI-BONE from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $26.67.

SI-BONE Stock Down 4.7 %

The company has a market cap of $590.10 million, a P/E ratio of -12.62 and a beta of 1.20. The stock’s 50-day moving average price is $16.97 and its 200-day moving average price is $18.24. The company has a current ratio of 9.01, a quick ratio of 8.15 and a debt-to-equity ratio of 0.21.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings data on Monday, February 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.02. SI-BONE had a negative net margin of 31.20% and a negative return on equity of 28.22%. The company had revenue of $38.86 million for the quarter, compared to analysts’ expectations of $38.60 million. As a group, research analysts forecast that SI-BONE, Inc. will post -0.98 EPS for the current year.

Insider Activity at SI-BONE

In related news, Director Mika Nishimura sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $16.22, for a total value of $40,550.00. Following the transaction, the director now owns 19,350 shares of the company’s stock, valued at approximately $313,857. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other SI-BONE news, Director Mika Nishimura sold 2,500 shares of SI-BONE stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $16.22, for a total transaction of $40,550.00. Following the transaction, the director now owns 19,350 shares of the company’s stock, valued at approximately $313,857. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Anshul Maheshwari sold 2,425 shares of SI-BONE stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.45, for a total transaction of $37,466.25. Following the transaction, the chief financial officer now directly owns 205,516 shares in the company, valued at approximately $3,175,222.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,562 shares of company stock valued at $185,285. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SI-BONE

Several large investors have recently modified their holdings of SIBN. RiverPark Advisors LLC purchased a new stake in shares of SI-BONE during the 3rd quarter worth approximately $55,000. Amalgamated Bank increased its stake in shares of SI-BONE by 12.9% during the 4th quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock worth $123,000 after purchasing an additional 673 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of SI-BONE by 48.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,435 shares of the company’s stock worth $158,000 after purchasing an additional 2,437 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of SI-BONE by 14.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,541 shares of the company’s stock worth $179,000 after purchasing an additional 1,106 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of SI-BONE by 7.7% during the 4th quarter. Arizona State Retirement System now owns 10,675 shares of the company’s stock worth $224,000 after purchasing an additional 762 shares during the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

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.