SI-BONE (NASDAQ:SIBN) Trading 6.6% Higher - Time to Buy?

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) shares shot up 6.6% on Tuesday . The company traded as high as $13.11 and last traded at $13.08. 1,029,052 shares changed hands during mid-day trading, an increase of 167% from the average session volume of 384,803 shares. The stock had previously closed at $12.27.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SIBN. Morgan Stanley lowered their target price on SI-BONE from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC lowered their price objective on SI-BONE from $27.00 to $19.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Finally, Truist Financial cut their target price on SI-BONE from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $22.67.

SI-BONE Stock Performance

The firm has a 50 day simple moving average of $14.49 and a 200-day simple moving average of $14.35. The company has a market cap of $546.61 million, a price-to-earnings ratio of -12.03 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.17 and a quick ratio of 8.12.

SI-BONE (NASDAQ:SIBN - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.04. The firm had revenue of $39.97 million for the quarter, compared to analyst estimates of $38.95 million. SI-BONE had a negative net margin of 27.10% and a negative return on equity of 24.27%. During the same period in the previous year, the firm earned ($0.30) EPS. As a group, analysts predict that SI-BONE, Inc. will post -0.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Anthony J. Recupero sold 2,087 shares of the firm's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.17, for a total transaction of $29,572.79. Following the completion of the transaction, the insider now directly owns 236,717 shares in the company, valued at $3,354,279.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other SI-BONE news, insider Anthony J. Recupero sold 2,087 shares of the business's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $14.17, for a total transaction of $29,572.79. Following the sale, the insider now directly owns 236,717 shares in the company, valued at $3,354,279.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laura Francis sold 9,967 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were 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 directly owns 492,923 shares of the company's stock, valued at approximately $6,822,054.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,019 shares of company stock valued at $349,879. Company insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On SI-BONE

Several institutional investors have recently modified their holdings of SIBN. Harbor Capital Advisors Inc. raised its stake in shares of SI-BONE by 222.5% in the third quarter. Harbor Capital Advisors Inc. now owns 620,490 shares of the company's stock valued at $8,674,000 after acquiring an additional 428,110 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in SI-BONE in the 3rd quarter valued at about $2,342,000. Diversified Trust Co raised its position in SI-BONE by 27.6% in the 3rd quarter. Diversified Trust Co now owns 27,160 shares of the company's stock valued at $380,000 after purchasing an additional 5,875 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of SI-BONE in the 3rd quarter valued at about $353,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of SI-BONE during the second quarter worth about $454,000. Institutional investors and hedge funds 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.