SI-BONE, Inc. (NASDAQ:SIBN) Short Interest Up 17.8% in February

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,260,000 shares, a growth of 17.8% from the February 13th total of 1,070,000 shares. Based on an average daily trading volume, of 364,300 shares, the days-to-cover ratio is currently 3.5 days. Approximately 3.1% of the company's stock are short sold.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SIBN shares. Cantor Fitzgerald restated an "overweight" rating and set a $25.00 price target on shares of SI-BONE in a report on Tuesday, February 25th. Truist Financial restated a "buy" rating and set a $22.00 price target (up from $18.00) on shares of SI-BONE in a report on Tuesday, February 25th. Finally, Needham & Company LLC boosted their price target on shares of SI-BONE from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $24.50.

SI-BONE Stock Performance

SIBN traded down $0.30 during midday trading on Friday, reaching $14.66. The company had a trading volume of 633,310 shares, compared to its average volume of 350,795. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. The stock has a market cap of $622.36 million, a PE ratio of -15.93 and a beta of 1.17. SI-BONE has a 12-month low of $11.70 and a 12-month high of $19.16. The business has a 50-day moving average price of $16.62 and a two-hundred day moving average price of $14.80.

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SI-BONE (NASDAQ:SIBN - Get Free Report) last released its earnings results on Monday, February 24th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.05. The firm had revenue of $49.00 million for the quarter, compared to analysts' expectations of $48.87 million. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. On average, sell-side analysts expect that SI-BONE will post -0.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Anshul Maheshwari sold 5,304 shares of SI-BONE stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total transaction of $73,778.64. Following the completion of the transaction, the chief financial officer now directly owns 189,319 shares in the company, valued at $2,633,427.29. This trade represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony J. Recupero sold 3,670 shares of SI-BONE stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total transaction of $51,013.00. Following the transaction, the insider now owns 222,814 shares of the company's stock, valued at $3,097,114.60. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,311 shares of company stock worth $130,356 over the last three months. 3.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIBN. FMR LLC raised its position in shares of SI-BONE by 103.6% in the third quarter. FMR LLC now owns 2,354 shares of the company's stock valued at $33,000 after purchasing an additional 1,198 shares during the period. Virtus Fund Advisers LLC bought a new stake in shares of SI-BONE in the fourth quarter valued at approximately $40,000. Mainstream Capital Management LLC bought a new stake in shares of SI-BONE in the fourth quarter valued at approximately $53,000. R Squared Ltd bought a new stake in shares of SI-BONE in the fourth quarter valued at approximately $73,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of SI-BONE in the fourth quarter valued at approximately $97,000. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

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.