SI-BONE (NASDAQ:SIBN) Stock Price Down 3.5% – What’s Next?

SI-BONE, Inc. (NASDAQ:SIBN)’s stock price was down 3.5% during mid-day trading on Monday . The company traded as low as $12.21 and last traded at $12.23. Approximately 351,565 shares changed hands during trading, a decline of 7% from the average daily volume of 379,695 shares. The stock had previously closed at $12.67.

Wall Street Analyst Weigh In

SIBN has been the subject of several research analyst reports. Morgan Stanley dropped their price objective on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC dropped their price target on SI-BONE from $27.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Truist Financial reduced their price objective on shares of SI-BONE from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Six equities research 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 $22.67.

SI-BONE Stock Up 0.5 %

The company has a market capitalization of $549.11 million, a P/E ratio of -12.03 and a beta of 1.22. The company has a 50-day moving average of $14.49 and a two-hundred day moving average of $14.35. The company has a quick ratio of 8.12, a current ratio of 9.17 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last released its earnings results on Monday, August 5th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.04. SI-BONE had a negative net margin of 27.10% and a negative return on equity of 24.27%. The firm had revenue of $39.97 million for the quarter, compared to the consensus estimate of $38.95 million. During the same period in the prior year, the firm earned ($0.30) EPS. On average, research analysts predict that SI-BONE, Inc. will post -0.89 EPS for the current year.

Insider Buying and Selling at SI-BONE

In other news, insider Anthony J. Recupero sold 3,305 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $13.58, for a total value of $44,881.90. Following the sale, the insider now directly owns 233,412 shares of the company’s stock, valued at $3,169,734.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Anthony J. Recupero sold 3,305 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total transaction of $44,881.90. Following the sale, the insider now directly owns 233,412 shares of the company’s stock, valued at approximately $3,169,734.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Laura Francis sold 9,967 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.84, for a total transaction of $137,943.28. Following the completion of the transaction, the chief executive officer now owns 492,923 shares in the company, valued at approximately $6,822,054.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,019 shares of company stock valued at $349,879. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of SI-BONE

A number of institutional investors and hedge funds have recently modified their holdings of SIBN. Impax Asset Management Group plc boosted its holdings in shares of SI-BONE by 41.3% during the 3rd quarter. Impax Asset Management Group plc now owns 758,521 shares of the company’s stock valued at $10,604,000 after acquiring an additional 221,604 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in SI-BONE by 222.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 620,490 shares of the company’s stock valued at $8,674,000 after buying an additional 428,110 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in shares of SI-BONE during the 3rd quarter valued at $2,342,000. Diversified Trust Co boosted its stake in shares of SI-BONE by 27.6% in the 3rd quarter. Diversified Trust Co now owns 27,160 shares of the company’s stock worth $380,000 after buying an additional 5,875 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of SI-BONE in the third quarter worth $353,000. 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.