SI-BONE (NASDAQ:SIBN) Trading Down 2.6% – Should You Sell?

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

Analyst Upgrades and Downgrades

SIBN has been the subject of several research reports. Truist Financial increased their price objective on shares of SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of SI-BONE in a report on Monday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $23.00.

SI-BONE Price Performance

The company’s fifty day moving average is $13.76 and its 200 day moving average is $14.28. The firm has a market cap of $709.62 million, a price-to-earnings ratio of -18.39 and a beta of 1.16. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling at SI-BONE

In other news, insider Anthony J. Recupero sold 3,670 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total transaction of $51,013.00. Following the completion of the sale, the insider now owns 222,814 shares in the company, valued at approximately $3,097,114.60. This trade represents a 1.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 2,439 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $12.68, for a total transaction of $30,926.52. Following the sale, the chief financial officer now owns 194,623 shares of the company’s stock, valued at approximately $2,467,819.64. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,348 shares of company stock worth $356,349 over the last quarter. 3.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SI-BONE

A number of hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. increased its holdings in SI-BONE by 35.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 841,045 shares of the company’s stock valued at $11,791,000 after buying an additional 220,555 shares during the period. JPMorgan Chase & Co. increased its holdings in SI-BONE by 14.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 177,793 shares of the company’s stock valued at $2,486,000 after buying an additional 22,732 shares during the period. Franklin Resources Inc. increased its holdings in SI-BONE by 9.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock valued at $265,000 after buying an additional 1,745 shares during the period. Barclays PLC increased its holdings in SI-BONE by 190.8% in the 3rd quarter. Barclays PLC now owns 96,623 shares of the company’s stock valued at $1,350,000 after buying an additional 63,402 shares during the period. Finally, Geode Capital Management LLC increased its holdings in SI-BONE by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 924,044 shares of the company’s stock valued at $12,921,000 after buying an additional 30,005 shares during the period. 98.11% of the stock is owned by institutional investors.

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.