SI-BONE (NASDAQ:SIBN) Sets New 1-Year Low at $14.07

Shares of SI-BONE, Inc. (NASDAQ:SIBN) reached a new 52-week low on Friday . The company traded as low as $14.07 and last traded at $14.20, with a volume of 396112 shares. The stock had previously closed at $14.61.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $27.00 price target on shares of SI-BONE in a research note on Wednesday, April 3rd. Piper Sandler assumed coverage on shares of SI-BONE in a research report on Thursday, March 28th. They set an “overweight” rating and a $25.00 target price on the stock. Morgan Stanley lifted their price target on shares of SI-BONE from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 price objective on shares of SI-BONE in a report on Tuesday, February 27th. Finally, Truist Financial reaffirmed a “buy” rating and set a $24.00 target price (down previously from $26.00) on shares of SI-BONE in a report on Tuesday, February 27th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $26.67.

SI-BONE Price Performance

The business has a 50 day moving average price of $15.99 and a 200 day moving average price of $18.03. 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 issued its quarterly earnings data 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 firm had revenue of $38.86 million during the quarter, compared to analysts’ expectations of $38.60 million. SI-BONE had a negative net margin of 31.20% and a negative return on equity of 28.22%. As a group, sell-side analysts expect that SI-BONE, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity at SI-BONE

In other SI-BONE news, insider Anthony J. Recupero sold 3,330 shares of SI-BONE stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $16.82, for a total transaction of $56,010.60. Following the transaction, the insider now directly owns 255,760 shares in the company, valued at $4,301,883.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other SI-BONE news, CFO Anshul Maheshwari sold 2,425 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.45, for a total transaction of $37,466.25. Following the completion of the transaction, 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 filing with the SEC, which is available through the SEC website. Also, insider Anthony J. Recupero sold 3,330 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $16.82, for a total value of $56,010.60. Following the transaction, the insider now owns 255,760 shares of the company’s stock, valued at $4,301,883.20. The disclosure for this sale can be found here. Insiders sold a total of 11,905 shares of company stock worth $190,273 in the last quarter. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. increased its stake in shares of SI-BONE by 20.5% during the 3rd quarter. Federated Hermes Inc. now owns 325,721 shares of the company’s stock worth $6,918,000 after purchasing an additional 55,515 shares during the last quarter. Mach 1 Financial Group LLC bought a new stake in SI-BONE in the fourth quarter valued at approximately $493,000. Kent Lake Capital LLC lifted its position in shares of SI-BONE by 33.3% in the fourth quarter. Kent Lake Capital LLC now owns 400,000 shares of the company’s stock valued at $8,396,000 after buying an additional 100,000 shares during the last quarter. Swiss National Bank boosted its stake in shares of SI-BONE by 1.1% during the 3rd quarter. Swiss National Bank now owns 76,600 shares of the company’s stock worth $1,627,000 after acquiring an additional 800 shares during the period. Finally, Semanteon Capital Management LP acquired a new position in shares of SI-BONE during the 4th quarter worth approximately $251,000. 98.11% of the stock is owned by institutional investors.

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.