SI-BONE (NASDAQ:SIBN) Trading Down 2.6% - Time to Sell?

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) shares fell 2.6% during trading on Tuesday . The stock traded as low as $15.71 and last traded at $15.80. 27,730 shares were traded during mid-day trading, a decline of 91% from the average session volume of 297,866 shares. The stock had previously closed at $16.23.

Wall Street Analysts Forecast Growth

SIBN has been the topic of several research analyst reports. Truist Financial boosted their price target on SI-BONE from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Needham & Company LLC reiterated a "buy" rating and set a $19.00 target price on shares of SI-BONE in a research report on Monday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $23.00.

SI-BONE Trading Down 3.3 %

The company has a market capitalization of $658.43 million, a PE ratio of -17.07 and a beta of 1.16. 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 business has a fifty day moving average price of $13.73 and a 200 day moving average price of $14.24.

Insider Activity

In other news, CFO Anshul Maheshwari sold 2,439 shares of the company's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $12.68, for a total transaction of $30,926.52. Following the completion of the transaction, the chief financial officer now directly owns 194,623 shares of the company's stock, valued at approximately $2,467,819.64. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laura Francis sold 10,048 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $12.58, for a total value of $126,403.84. Following the completion of the sale, the chief executive officer now directly owns 482,875 shares in the company, valued at $6,074,567.50. This represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,348 shares of company stock worth $356,349. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SI-BONE

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted its stake in SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company's stock valued at $33,000 after purchasing an additional 1,198 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in SI-BONE during the second quarter valued at about $61,000. Arizona State Retirement System grew its holdings in SI-BONE by 9.0% during the second quarter. Arizona State Retirement System now owns 10,921 shares of the company's stock worth $141,000 after acquiring an additional 903 shares during the period. Walleye Capital LLC bought a new stake in SI-BONE in the third quarter worth about $144,000. Finally, Deerfield Management Company L.P. Series C acquired a new stake in SI-BONE in the 2nd quarter valued at about $151,000. 98.11% of the stock is currently owned by institutional investors and hedge funds.

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.