SI-BONE (NASDAQ:SIBN) Shares Gap Up - Here's What Happened

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $14.82, but opened at $15.20. SI-BONE shares last traded at $15.04, with a volume of 36,545 shares.

Analyst Ratings Changes

A number of brokerages recently commented on SIBN. Needham & Company LLC raised their target price on SI-BONE from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Truist Financial reaffirmed a "buy" rating and issued a $22.00 price objective (up previously from $18.00) on shares of SI-BONE in a research note on Tuesday, February 25th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $25.00 price objective on shares of SI-BONE in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SI-BONE currently has an average rating of "Buy" and a consensus price target of $24.40.

SI-BONE Price Performance

The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $16.41 and a 200-day simple moving average of $14.78. The firm has a market cap of $596.04 million, a PE ratio of -15.26 and a beta of 1.17.

SI-BONE (NASDAQ:SIBN - Get Free Report) last issued its earnings results on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) 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 company had revenue of $49.00 million for the quarter, compared to the consensus estimate of $48.87 million. Equities analysts anticipate that SI-BONE, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Transactions at SI-BONE

In other SI-BONE news, insider Anthony J. Recupero sold 3,670 shares of SI-BONE stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total value of $51,013.00. Following the sale, the insider now owns 222,814 shares of the company's stock, valued at $3,097,114.60. The trade was a 1.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Anshul Maheshwari sold 5,304 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total value of $73,778.64. Following the transaction, the chief financial officer now owns 189,319 shares of the company's stock, valued at $2,633,427.29. This represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,311 shares of company stock valued at $130,356. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SI-BONE

Hedge funds have recently bought and sold shares of the business. Silvercrest Asset Management Group LLC lifted its holdings in shares of SI-BONE by 21.9% in the 4th 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. American Century Companies Inc. boosted 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 buying an additional 236,167 shares during the period. Harbor Capital Advisors Inc. increased its position in SI-BONE by 35.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 841,045 shares of the company's stock valued at $11,791,000 after acquiring an additional 220,555 shares during the last quarter. Marshall Wace LLP increased its position in SI-BONE by 332.5% during the fourth quarter. Marshall Wace LLP now owns 264,523 shares of the company's stock valued at $3,709,000 after acquiring an additional 203,361 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of SI-BONE by 17.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,263,988 shares of the company's stock valued at $17,721,000 after acquiring an additional 190,830 shares during the period. 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.