SI-BONE (NASDAQ:SIBN) Stock Price Down 4.5% – Here’s Why

SI-BONE, Inc. (NASDAQ:SIBN) fell 4.5% during trading on Monday . The stock traded as low as $12.81 and last traded at $12.77. 38,819 shares were traded during trading, a decline of 89% from the average session volume of 362,545 shares. The stock had previously closed at $13.37.

Analyst Upgrades and Downgrades

SIBN has been the topic of a number of analyst reports. Truist Financial reissued a “buy” rating and issued a $22.00 price target (up previously from $18.00) on shares of SI-BONE 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 research report on Tuesday, February 25th. Finally, Needham & Company LLC boosted their price target on shares of SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SI-BONE presently has a consensus rating of “Buy” and an average price target of $24.40.

SI-BONE Stock Down 2.3 %

The business has a fifty day moving average price of $15.47 and a two-hundred day moving average price of $14.63. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22. The company has a market cap of $554.01 million, a price-to-earnings ratio of -14.18 and a beta of 1.02.

SI-BONE (NASDAQ:SIBN) last released 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 analysts predict that SI-BONE, Inc. will post -0.78 earnings per share for the current year.

Insider Activity at SI-BONE

In related news, insider Anthony J. Recupero sold 3,311 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $14.15, for a total value of $46,850.65. Following the transaction, the insider now owns 284,555 shares in the company, valued at approximately $4,026,453.25. This represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael A. Pisetsky sold 3,128 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $14.14, for a total transaction of $44,229.92. Following the transaction, the senior vice president now directly owns 244,878 shares in the company, valued at approximately $3,462,574.92. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,776 shares of company stock valued at $96,644. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

A number of large investors have recently bought and sold shares of the business. American Century Companies Inc. raised its holdings in SI-BONE by 11.0% during the fourth quarter. American Century Companies Inc. now owns 2,378,068 shares of the company’s stock valued at $33,341,000 after buying an additional 236,167 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of SI-BONE by 21.9% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,953,806 shares of the company’s stock valued at $27,392,000 after acquiring an additional 350,970 shares during the last quarter. Paradigm Capital Management Inc. NY raised its stake in shares of SI-BONE by 5.3% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,386,031 shares of the company’s stock valued at $19,432,000 after acquiring an additional 69,831 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in SI-BONE by 17.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,263,988 shares of the company’s stock worth $17,721,000 after purchasing an additional 190,830 shares during the last quarter. Finally, State Street Corp boosted its position 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 purchasing an additional 52,972 shares during the period. 98.11% of the stock is currently owned by institutional investors.

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.