SI-BONE (NASDAQ:SIBN) Hits New 1-Year Low at $14.33

SI-BONE, Inc. (NASDAQ:SIBN) shares hit a new 52-week low during trading on Thursday . The company traded as low as $14.33 and last traded at $14.33, with a volume of 31230 shares trading hands. The stock had previously closed at $15.08.

Analyst Ratings Changes

SIBN has been the subject of a number of research analyst reports. Truist Financial reiterated a “buy” rating and issued a $24.00 target price (down previously from $26.00) on shares of SI-BONE in a research report on Tuesday, February 27th. Piper Sandler started coverage on SI-BONE in a research report on Thursday, March 28th. They set an “overweight” rating and a $25.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a research report on Tuesday, February 27th. 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. Finally, Morgan Stanley increased 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. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $26.67.

SI-BONE Stock Up 2.1 %

The firm has a 50 day moving average price of $16.72 and a 200-day moving average price of $18.19. The company has a debt-to-equity ratio of 0.21, a quick ratio of 8.15 and a current ratio of 9.01.

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

Insiders Place Their Bets

In other 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 value 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 Securities & Exchange Commission, which is available at the SEC website. In other SI-BONE news, insider Anthony J. Recupero sold 3,307 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $15.50, for a total value of $51,258.50. Following the sale, the insider now directly owns 252,453 shares in the company, valued at approximately $3,913,021.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony J. Recupero sold 3,330 shares of the business’s 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 owns 255,760 shares in the company, valued at approximately $4,301,883.20. The disclosure for this sale can be found here. Insiders sold a total of 11,562 shares of company stock valued at $185,285 in the last quarter. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

A number of institutional investors have recently added to or reduced their stakes in SIBN. Brown Advisory Inc. increased its holdings in SI-BONE by 1.1% in the third quarter. Brown Advisory Inc. now owns 3,993,614 shares of the company’s stock valued at $84,824,000 after purchasing an additional 41,731 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of SI-BONE by 48.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,435 shares of the company’s stock valued at $158,000 after acquiring an additional 2,437 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of SI-BONE by 2.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 678,360 shares of the company’s stock valued at $14,408,000 after acquiring an additional 17,449 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in SI-BONE by 1.6% during the third quarter. Assenagon Asset Management S.A. now owns 218,325 shares of the company’s stock worth $4,637,000 after acquiring an additional 3,335 shares in the last quarter. Finally, Barclays PLC increased its position in shares of SI-BONE by 63.2% during the 3rd quarter. Barclays PLC now owns 24,286 shares of the company’s stock worth $516,000 after purchasing an additional 9,402 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

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.