SI-BONE (NASDAQ:SIBN) Sees Strong Trading Volume - Still a Buy?

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 875,161 shares were traded during trading, an increase of 127% from the previous session's volume of 384,918 shares.The stock last traded at $18.20 and had previously closed at $18.26.

Analysts Set New Price Targets

SIBN has been the topic of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $24.00 target price on shares of SI-BONE in a research report on Tuesday, May 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $25.00 price objective on shares of SI-BONE in a research note on Tuesday, May 6th. Finally, Truist Financial lifted their price objective on shares of SI-BONE from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th.

SI-BONE Stock Up 2.9%

The stock has a 50 day simple moving average of $16.69 and a 200-day simple moving average of $15.79. The firm has a market cap of $764.09 million, a PE ratio of -19.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22.

SI-BONE (NASDAQ:SIBN - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.09. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. The company had revenue of $47.29 million during the quarter, compared to analyst estimates of $45.13 million. Sell-side analysts predict that SI-BONE, Inc. will post -0.78 EPS for the current fiscal year.

Insider Activity

In related news, SVP Michael A. Pisetsky sold 3,128 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $14.14, for a total value of $44,229.92. Following the transaction, the senior vice president now owns 244,878 shares of the company's stock, valued at $3,462,574.92. This represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laura Francis sold 38,504 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $17.18, for a total value of $661,498.72. Following the sale, the chief executive officer now directly owns 302,958 shares in the company, valued at $5,204,818.44. This trade represents a 11.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,942 shares of company stock worth $1,734,203 over the last ninety days. Corporate insiders own 4.00% 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. ANTIPODES PARTNERS Ltd acquired a new stake in SI-BONE during the 1st quarter worth about $34,000. Virtus Fund Advisers LLC purchased a new position in shares of SI-BONE during the 4th quarter valued at about $40,000. Mainstream Capital Management LLC purchased a new position in shares of SI-BONE during the 4th quarter valued at about $53,000. GAMMA Investing LLC increased its stake in shares of SI-BONE by 20,352.6% in the 1st quarter. GAMMA Investing LLC now owns 3,886 shares of the company's stock valued at $55,000 after purchasing an additional 3,867 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new position in shares of SI-BONE in the 1st quarter valued at about $58,000. 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.