Needham & Company LLC Reiterates "Buy" Rating for SI-BONE (NASDAQ:SIBN)

Needham & Company LLC reissued their buy rating on shares of SI-BONE (NASDAQ:SIBN - Free Report) in a research report released on Wednesday,Benzinga reports. They currently have a $19.00 price target on the stock.

Several other research analysts also recently issued reports on the company. Truist Financial lifted their price objective on SI-BONE from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $23.00.

SI-BONE Price Performance

SIBN stock traded down $0.17 on Wednesday, reaching $12.15. 217,144 shares of the company's stock were exchanged, compared to its average volume of 392,037. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. SI-BONE has a twelve month low of $11.76 and a twelve month high of $21.70. The stock has a fifty day moving average of $13.91 and a 200-day moving average of $14.26. The firm has a market cap of $509.57 million, a PE ratio of -13.39 and a beta of 1.22.

Insider Activity

In other news, insider Anthony J. Recupero sold 3,305 shares of the firm's stock in a transaction 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 completion of the sale, the insider now owns 233,412 shares of the company's stock, valued at $3,169,734.96. This trade represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 5,060 shares of company stock valued at $72,621. Company insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SIBN. FMR LLC grew its holdings in shares of SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company's stock worth $33,000 after purchasing an additional 1,198 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in SI-BONE in the 2nd quarter valued at $61,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of SI-BONE by 24.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company's stock valued at $138,000 after buying an additional 2,108 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of SI-BONE by 9.0% during the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company's stock worth $141,000 after acquiring an additional 903 shares during the period. Finally, Walleye Capital LLC bought a new position in SI-BONE during the third quarter worth about $144,000. 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.