SI-BONE (NASDAQ:SIBN) Sees Unusually-High Trading Volume - Here's Why

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 875,161 shares changed hands during mid-day 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.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SIBN shares. Truist Financial increased their target price on shares of SI-BONE from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Cantor Fitzgerald restated an "overweight" rating and issued a $25.00 price target on shares of SI-BONE in a research note on Tuesday, May 6th. Finally, Needham & Company LLC restated a "buy" rating and issued a $24.00 price target on shares of SI-BONE in a research note on Tuesday, May 6th.

SI-BONE Stock Down 2.5%

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 market capitalization of $758.76 million, a P/E ratio of -19.39 and a beta of 0.94. The business has a 50-day moving average price of $16.50 and a 200 day moving average price of $15.69.

SI-BONE (NASDAQ:SIBN - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.15) earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $45.13 million. On average, equities analysts expect that SI-BONE, Inc. will post -0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey W. Dunn sold 3,377 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $19.05, for a total transaction of $64,331.85. Following the transaction, the director now owns 17,354 shares in the company, valued at approximately $330,593.70. This trade represents a 16.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael A. Pisetsky sold 3,128 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were 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 in the company, valued at approximately $3,462,574.92. This represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,942 shares of company stock worth $1,734,203 over the last quarter. Company insiders own 4.00% of the company's stock.

Institutional Investors Weigh In On SI-BONE

Institutional investors have recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new stake in SI-BONE in the first quarter worth about $18,605,000. First Light Asset Management LLC lifted its holdings in shares of SI-BONE by 41.8% during the first quarter. First Light Asset Management LLC now owns 1,612,408 shares of the company's stock worth $22,622,000 after purchasing an additional 475,426 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in shares of SI-BONE by 21.9% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,953,806 shares of the company's stock worth $27,392,000 after purchasing an additional 350,970 shares during the period. American Century Companies Inc. lifted its holdings in shares of SI-BONE by 11.1% during the first quarter. American Century Companies Inc. now owns 2,642,322 shares of the company's stock worth $37,072,000 after purchasing an additional 264,254 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of SI-BONE by 55.0% during the first quarter. Victory Capital Management Inc. now owns 631,568 shares of the company's stock worth $8,861,000 after purchasing an additional 224,190 shares during the period. 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.

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