SI-BONE (NASDAQ:SIBN) Shares Gap Up - Still a Buy?

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) 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 trading hands.

Wall Street Analyst Weigh In

SIBN has been the topic of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating and set a $25.00 price target on shares of SI-BONE in a research note on Tuesday, February 25th. Truist Financial reaffirmed a "buy" rating and issued 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 objective on SI-BONE from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $24.50.

SI-BONE Trading Down 0.1 %

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 capitalization of $593.49 million, a P/E ratio of -15.20 and a beta of 1.17. The firm's 50-day simple moving average is $16.47 and its 200-day simple moving average is $14.78.

SI-BONE (NASDAQ:SIBN - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.05. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. The company had revenue of $49.00 million during the quarter, compared to the consensus estimate of $48.87 million. Analysts anticipate that SI-BONE, Inc. will post -0.78 EPS for the current year.

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Insider Transactions at SI-BONE

In related news, insider Anthony J. Recupero sold 3,670 shares of the 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 transaction, the insider now owns 222,814 shares of the company's stock, valued at approximately $3,097,114.60. This trade represents a 1.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anshul Maheshwari sold 5,304 shares of SI-BONE 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 completion of the transaction, the chief financial officer now owns 189,319 shares in the company, valued at approximately $2,633,427.29. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,311 shares of company stock worth $130,356. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SI-BONE

Several institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in SI-BONE by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 315,092 shares of the company's stock valued at $4,405,000 after purchasing an additional 5,966 shares during the last quarter. FMR LLC increased its stake in shares of SI-BONE by 103.6% in the third quarter. FMR LLC now owns 2,354 shares of the company's stock worth $33,000 after buying an additional 1,198 shares during the period. BNP Paribas Financial Markets increased its stake in shares of SI-BONE by 24.6% in the third quarter. BNP Paribas Financial Markets now owns 106,442 shares of the company's stock worth $1,488,000 after buying an additional 21,012 shares during the period. Walleye Capital LLC bought a new stake in SI-BONE during the 3rd quarter valued at $144,000. Finally, PDT Partners LLC purchased a new stake in SI-BONE during the 3rd quarter valued at $479,000. 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.