SI-BONE (NASDAQ:SIBN) Reaches New 1-Year Low at $14.84

SI-BONE, Inc. (NASDAQ:SIBN)’s stock price hit a new 52-week low on Monday . The stock traded as low as $14.84 and last traded at $15.08, with a volume of 18134 shares changing hands. The stock had previously closed at $14.97.

Wall Street Analyst Weigh In

SIBN has been the subject of several analyst reports. Truist Financial restated 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. Piper Sandler initiated coverage on SI-BONE in a report on Thursday, March 28th. They issued an “overweight” rating and a $25.00 price objective for the company. Morgan Stanley lifted their price objective on SI-BONE from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of SI-BONE in a report on Tuesday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $27.00 price objective on shares of SI-BONE in a report on Wednesday, April 3rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $26.67.

SI-BONE Stock Up 0.5 %

The firm has a fifty day moving average of $17.53 and a 200 day moving average of $18.43. The company has a debt-to-equity ratio of 0.21, a current ratio of 9.01 and a quick ratio of 8.15.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings results on Monday, February 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. The business had revenue of $38.86 million during the quarter, compared to the consensus estimate of $38.60 million. SI-BONE had a negative return on equity of 28.22% and a negative net margin of 31.20%. On average, sell-side analysts expect that SI-BONE, Inc. will post -0.98 EPS for the current year.

Insider Transactions at SI-BONE

In other news, Director Mika Nishimura sold 2,500 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total value of $40,550.00. Following the completion of the sale, the director now directly owns 19,350 shares in the company, valued at approximately $313,857. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other SI-BONE news, CFO Anshul Maheshwari sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total transaction of $37,466.25. Following the sale, the chief financial officer now owns 205,516 shares in the company, valued at approximately $3,175,222.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mika Nishimura sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total transaction of $40,550.00. Following the completion of the transaction, the director now owns 19,350 shares of the company’s stock, valued at $313,857. The disclosure for this sale can be found here. Insiders have sold 11,562 shares of company stock worth $185,285 in the last 90 days. 5.40% of the stock is currently owned by insiders.

Institutional Trading of SI-BONE

Several institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP bought a new stake in SI-BONE during the second quarter valued at about $15,254,000. Silvercrest Asset Management Group LLC grew its position in shares of SI-BONE by 154.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 900,969 shares of the company’s stock worth $17,722,000 after purchasing an additional 547,141 shares in the last quarter. First Light Asset Management LLC grew its position in shares of SI-BONE by 50.6% during the first quarter. First Light Asset Management LLC now owns 1,084,634 shares of the company’s stock worth $24,513,000 after purchasing an additional 364,391 shares in the last quarter. Pier Capital LLC purchased a new stake in shares of SI-BONE during the fourth quarter worth about $4,849,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of SI-BONE during the fourth quarter worth about $6,721,000. 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.