SI-BONE (NASDAQ:SIBN) Shares Gap Up – Still a Buy?

SI-BONE, Inc. (NASDAQ:SIBN) gapped up before the market opened on Tuesday . The stock had previously closed at $14.82, but opened at $15.20. SI-BONE shares last traded at $15.04, with a volume of 36,545 shares.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SIBN. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a report on Tuesday, February 25th. Truist Financial reaffirmed a “buy” rating and set a $22.00 target price (up previously from $18.00) on shares of SI-BONE in a research report on Tuesday, February 25th. Finally, Needham & Company LLC increased 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. Six 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 $24.50.

SI-BONE Price Performance

The company’s fifty day simple moving average is $16.53 and its 200-day simple moving average is $14.79. The stock has a market cap of $595.62 million, a P/E ratio of -15.25 and a beta of 1.17. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.05. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. The firm had revenue of $49.00 million during the quarter, compared to analyst estimates of $48.87 million. As a group, sell-side analysts forecast that SI-BONE, Inc. will post -0.78 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Anshul Maheshwari sold 5,304 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total value of $73,778.64. Following the transaction, the chief financial officer now owns 189,319 shares in the company, valued at $2,633,427.29. This trade represents a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony J. Recupero sold 3,670 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total transaction of $51,013.00. Following the completion of the transaction, the insider now directly owns 222,814 shares in the company, valued at $3,097,114.60. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,311 shares of company stock worth $130,356 over the last three months. 3.90% of the stock is currently owned by corporate insiders.

Institutional Trading of SI-BONE

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC grew its stake in shares of SI-BONE by 103.6% during the third quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after purchasing an additional 1,198 shares during the period. Virtus Fund Advisers LLC bought a new position in shares of SI-BONE during the fourth quarter worth about $40,000. Mainstream Capital Management LLC bought a new stake in SI-BONE in the 4th quarter valued at approximately $53,000. R Squared Ltd acquired a new position in SI-BONE during the 4th quarter worth approximately $73,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of SI-BONE during the 4th quarter worth approximately $97,000. Institutional investors own 98.11% of the company’s stock.

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.