SI-BONE (NASDAQ:SIBN) Shares Gap Up – Time to Buy?

SI-BONE, Inc. (NASDAQ:SIBN)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $13.36, but opened at $13.70. SI-BONE shares last traded at $13.44, with a volume of 11,236 shares.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Truist Financial restated a “buy” rating and issued a $22.00 price target (up previously from $18.00) on shares of SI-BONE in a report on Tuesday, February 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 target price on shares of SI-BONE in a research report on Tuesday, February 25th. Finally, Needham & Company LLC raised their target price on SI-BONE from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SI-BONE presently has an average rating of “Buy” and an average price target of $24.40.

SI-BONE Price Performance

The stock has a market cap of $557.11 million, a PE ratio of -14.35 and a beta of 1.02. The stock’s fifty day moving average is $15.55 and its 200-day moving average is $14.64. 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) last announced its quarterly earnings results on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The business had revenue of $49.00 million during the quarter, compared to the consensus estimate of $48.87 million. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. As a group, equities analysts anticipate that SI-BONE, Inc. will post -0.78 EPS for the current year.

Insider Activity

In other news, insider Anthony J. Recupero sold 3,311 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $14.15, for a total transaction of $46,850.65. Following the completion of the transaction, the insider now directly owns 284,555 shares in the company, valued at $4,026,453.25. This trade represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael A. Pisetsky sold 3,128 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 244,878 shares in the company, valued at $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 6,776 shares of company stock valued at $96,644 in the last quarter. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On SI-BONE

A number of institutional investors have recently modified their holdings of SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of SI-BONE by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,373 shares of the company’s stock valued at $328,000 after buying an additional 988 shares in the last quarter. FMR LLC lifted its stake in SI-BONE by 103.6% in the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after buying an additional 1,198 shares in the last quarter. Invesco Ltd. increased its position in SI-BONE by 8.9% during the 4th quarter. Invesco Ltd. now owns 17,203 shares of the company’s stock worth $241,000 after purchasing an additional 1,413 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of SI-BONE by 3.0% during the fourth quarter. Rhumbline Advisers now owns 57,621 shares of the company’s stock worth $808,000 after buying an additional 1,683 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of SI-BONE by 9.4% during the 3rd quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock worth $265,000 after purchasing an additional 1,745 shares during the period. 98.11% of the stock is owned by institutional investors and hedge funds.

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.