SI-BONE (NASDAQ:SIBN) Sees Large Volume Increase - Still a Buy?

Shares of SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) saw an uptick in trading volume on Tuesday . 657,680 shares were traded during trading, an increase of 113% from the previous session's volume of 308,078 shares.The stock last traded at $17.46 and had previously closed at $16.39.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SIBN. Truist Financial increased their price objective on shares of SI-BONE from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Needham & Company LLC reiterated a "buy" rating and set a $19.00 price objective on shares of SI-BONE in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, SI-BONE has a consensus rating of "Buy" and an average price target of $23.00.

SI-BONE Trading Down 0.9 %

The stock's fifty day simple moving average is $15.57 and its 200-day simple moving average is $14.63. The firm has a market cap of $748.21 million, a PE ratio of -19.39 and a beta of 1.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22.

Insiders Place Their Bets

In related news, insider Anthony J. Recupero sold 3,670 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total transaction of $51,013.00. Following the completion of the transaction, the insider now owns 222,814 shares of the company's stock, valued at $3,097,114.60. This trade represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Anshul Maheshwari sold 5,304 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total transaction of $73,778.64. Following the transaction, the chief financial officer now directly owns 189,319 shares of the company's stock, valued at approximately $2,633,427.29. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,311 shares of company stock valued at $130,356. Insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Paradigm Capital Management Inc. NY raised its holdings in shares of SI-BONE by 5.3% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,386,031 shares of the company's stock worth $19,432,000 after purchasing an additional 69,831 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of SI-BONE by 8.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,666 shares of the company's stock worth $1,439,000 after purchasing an additional 7,855 shares during the last quarter. Virtus Fund Advisers LLC purchased a new position in shares of SI-BONE during the fourth quarter worth $40,000. Virtus Investment Advisers Inc. purchased a new position in shares of SI-BONE during the fourth quarter worth $196,000. Finally, Squarepoint Ops LLC purchased a new position in shares of SI-BONE during the fourth quarter worth $449,000. Hedge funds and other institutional investors own 98.11% of the company's stock.

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.