SI-BONE (NASDAQ:SIBN) Reaches New 52-Week Low at $14.07

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $14.07 and last traded at $14.20, with a volume of 396112 shares. The stock had previously closed at $14.61.

Analyst Ratings Changes

Several research analysts have weighed in on SIBN shares. Morgan Stanley increased their price target on shares of SI-BONE from $25.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 27th. Needham & Company LLC reiterated a "buy" rating and set a $27.00 target price on shares of SI-BONE in a research report on Wednesday, April 3rd. Cantor Fitzgerald restated an "overweight" rating and issued a $25.00 price target on shares of SI-BONE in a research report on Tuesday, February 27th. Truist Financial reaffirmed a "buy" rating and set a $24.00 price objective (down from $26.00) on shares of SI-BONE in a research report on Tuesday, February 27th. Finally, Piper Sandler started coverage on shares of SI-BONE in a research note on Thursday, March 28th. They set an "overweight" rating and a $25.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $26.67.

SI-BONE Price Performance

The firm has a 50 day moving average of $16.11 and a 200-day moving average of $18.05. The company has a current ratio of 9.01, a quick ratio of 8.15 and a debt-to-equity ratio of 0.21. The company has a market cap of $585.04 million, a P/E ratio of -12.46 and a beta of 1.24.

SI-BONE (NASDAQ:SIBN - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.02. The firm had revenue of $38.86 million for the quarter, compared to analysts' expectations of $38.60 million. SI-BONE had a negative net margin of 31.20% and a negative return on equity of 28.22%. On average, equities research analysts predict that SI-BONE, Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling

In other SI-BONE news, insider Anthony J. Recupero sold 3,307 shares of the company's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.50, for a total value of $51,258.50. Following the completion of the sale, the insider now directly owns 252,453 shares in the company, valued at approximately $3,913,021.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other SI-BONE news, CFO Anshul Maheshwari sold 2,425 shares of the business's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total value of $37,466.25. Following the completion of the transaction, the chief financial officer now directly owns 205,516 shares in the company, valued at $3,175,222.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony J. Recupero sold 3,307 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.50, for a total transaction of $51,258.50. Following the sale, the insider now directly owns 252,453 shares of the company's stock, valued at $3,913,021.50. The disclosure for this sale can be found here. Insiders have sold 11,905 shares of company stock valued at $190,273 in the last 90 days. Company insiders own 5.40% of the company's stock.

Institutional Trading of SI-BONE

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Advisory Inc. raised its position in shares of SI-BONE by 1.1% in the 3rd quarter. Brown Advisory Inc. now owns 3,993,614 shares of the company's stock valued at $84,824,000 after purchasing an additional 41,731 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in SI-BONE by 48.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,435 shares of the company's stock valued at $158,000 after buying an additional 2,437 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of SI-BONE by 2.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 678,360 shares of the company's stock valued at $14,408,000 after buying an additional 17,449 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in SI-BONE by 1.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 218,325 shares of the company's stock worth $4,637,000 after purchasing an additional 3,335 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of SI-BONE by 63.2% during the 3rd quarter. Barclays PLC now owns 24,286 shares of the company's stock valued at $516,000 after purchasing an additional 9,402 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company's stock.

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.

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