SI-BONE (NASDAQ:SIBN) Trading Down 3.5% - Time to Sell?

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report)'s share price fell 3.5% during trading on Monday . The company traded as low as $12.21 and last traded at $12.23. 351,565 shares traded hands during trading, a decline of 7% from the average session volume of 379,695 shares. The stock had previously closed at $12.67.

Analyst Upgrades and Downgrades

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

SI-BONE Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 9.17 and a quick ratio of 8.12. The business has a 50-day simple moving average of $14.55 and a 200 day simple moving average of $14.39.

SI-BONE (NASDAQ:SIBN - Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.04. The business had revenue of $39.97 million during the quarter, compared to analysts' expectations of $38.95 million. SI-BONE had a negative return on equity of 24.27% and a negative net margin of 27.10%. During the same quarter in the prior year, the business posted ($0.30) earnings per share. As a group, research analysts anticipate that SI-BONE, Inc. will post -0.89 earnings per share for the current fiscal year.

Insider Transactions at SI-BONE

In other news, insider Anthony J. Recupero sold 2,087 shares of the company's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.17, for a total value of $29,572.79. Following the completion of the transaction, the insider now owns 236,717 shares of the company's stock, valued at $3,354,279.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Laura Francis sold 9,967 shares of the 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 directly owns 492,923 shares of the company's stock, valued at approximately $6,822,054.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony J. Recupero sold 2,087 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.17, for a total value of $29,572.79. Following the transaction, the insider now directly owns 236,717 shares of the company's stock, valued at approximately $3,354,279.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,019 shares of company stock valued at $349,879 over the last 90 days. Company insiders own 3.90% of the company's stock.

Hedge Funds Weigh In On SI-BONE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new position in SI-BONE during the second quarter valued at approximately $61,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in SI-BONE by 24.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company's stock valued at $138,000 after purchasing an additional 2,108 shares during the period. Arizona State Retirement System raised its position in SI-BONE by 9.0% during the second quarter. Arizona State Retirement System now owns 10,921 shares of the company's stock valued at $141,000 after purchasing an additional 903 shares during the period. RiverPark Advisors LLC raised its position in SI-BONE by 260.4% during the first quarter. RiverPark Advisors LLC now owns 11,357 shares of the company's stock valued at $186,000 after purchasing an additional 8,206 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new stake in SI-BONE during the second quarter valued at approximately $151,000. 98.11% of the stock is owned by institutional investors.

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.

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