Short Interest in SI-BONE, Inc. (NASDAQ:SIBN) Expands By 40.5%

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,770,000 shares, an increase of 40.5% from the February 28th total of 1,260,000 shares. Currently, 4.4% of the company's stock are short sold. Based on an average trading volume of 382,900 shares, the short-interest ratio is presently 4.6 days.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Needham & Company LLC increased their price objective on SI-BONE from $20.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Truist Financial reissued a "buy" rating and issued a $22.00 price target (up previously from $18.00) on shares of SI-BONE in a report on Tuesday, February 25th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $25.00 price objective on shares of SI-BONE in a report on Tuesday, February 25th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $24.40.

SI-BONE Price Performance

Shares of NASDAQ:SIBN traded down $0.76 during trading on Thursday, reaching $13.60. 291,900 shares of the company's stock traded hands, compared to its average volume of 359,234. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The firm has a market cap of $577.36 million, a PE ratio of -14.78 and a beta of 1.02. SI-BONE has a fifty-two week low of $11.70 and a fifty-two week high of $19.16. The company has a 50-day simple moving average of $16.25 and a 200-day simple moving average of $14.74.

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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 the consensus estimate of ($0.16) by $0.05. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. The business had revenue of $49.00 million for the quarter, compared to the consensus estimate of $48.87 million. As a group, analysts predict that SI-BONE will post -0.78 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in SI-BONE by 11.0% during the fourth quarter. American Century Companies Inc. now owns 2,378,068 shares of the company's stock worth $33,341,000 after purchasing an additional 236,167 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in SI-BONE by 21.9% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,953,806 shares of the company's stock valued at $27,392,000 after acquiring an additional 350,970 shares during the last quarter. Bellevue Group AG grew its position in shares of SI-BONE by 4.1% during the third quarter. Bellevue Group AG now owns 1,444,109 shares of the company's stock worth $20,189,000 after acquiring an additional 56,500 shares during the last quarter. Paradigm Capital Management Inc. NY increased its holdings in shares of SI-BONE by 5.3% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,386,031 shares of the company's stock valued at $19,432,000 after purchasing an additional 69,831 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in SI-BONE by 17.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,263,988 shares of the company's stock worth $17,721,000 after purchasing an additional 190,830 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors and hedge funds.

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.