SI-BONE (NASDAQ:SIBN) Trading 3.9% Higher – What’s Next?

15 Nov 2024, 19:55 by Michael Walen · The Markets Daily

Shares of SI-BONE, Inc. (NASDAQ:SIBN – Get Free Report) traded up 3.9% on Friday . The company traded as high as $13.11 and last traded at $12.93. 195,026 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 390,482 shares. The stock had previously closed at $12.44.

Wall Street Analysts Forecast Growth

SIBN has been the subject of a number of recent analyst reports. Truist Financial upped their price objective on shares of SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of SI-BONE in a research report on Wednesday. Finally, Morgan Stanley cut their price objective on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, SI-BONE presently has an average rating of “Buy” and an average target price of $23.00.

Get Our Latest Research Report on SI-BONE

SI-BONE Trading Up 3.1 %

The stock has a market capitalization of $537.67 million, a PE ratio of -13.52 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 8.12. The stock’s 50 day simple moving average is $14.07 and its two-hundred day simple moving average is $14.30.

Insider Transactions at SI-BONE

In related news, insider Anthony J. Recupero sold 2,087 shares of SI-BONE stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $14.17, for a total transaction of $29,572.79. Following the completion of the transaction, the insider now directly owns 236,717 shares of the company’s stock, valued at $3,354,279.89. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 7,147 shares of company stock valued at $102,194 in the last quarter. Insiders own 3.90% of the company’s stock.

Institutional Trading of SI-BONE

Institutional investors and hedge funds have recently bought and sold shares of the company. Champlain Investment Partners LLC grew its position in SI-BONE by 104.8% during the first quarter. Champlain Investment Partners LLC now owns 2,453,147 shares of the company’s stock valued at $40,158,000 after buying an additional 1,255,610 shares during the period. Harbor Capital Advisors Inc. grew its position in SI-BONE by 440.5% during the second quarter. Harbor Capital Advisors Inc. now owns 192,380 shares of the company’s stock valued at $2,487,000 after buying an additional 156,790 shares during the period. Silvercrest Asset Management Group LLC grew its position in SI-BONE by 13.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,060,937 shares of the company’s stock valued at $17,368,000 after buying an additional 128,702 shares during the period. Vanguard Group Inc. grew its position in SI-BONE by 1.8% during the first quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock valued at $40,328,000 after buying an additional 43,670 shares during the period. Finally, American Century Companies Inc. grew its position in SI-BONE by 22.8% during the second quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after buying an additional 368,637 shares during the period. 98.11% of the stock is currently owned by institutional investors.

SI-BONE Company Profile

(Get Free Report)