SI-BONE (NASDAQ:SIBN) Stock Price Down 5.8% – Here’s What Happened

SI-BONE, Inc. (NASDAQ:SIBN) dropped 5.8% during trading on Monday . The stock traded as low as $13.81 and last traded at $13.83. Approximately 90,508 shares traded hands during trading, a decline of 76% from the average daily volume of 382,489 shares. The stock had previously closed at $14.68.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC lowered their target price on shares of SI-BONE from $27.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Truist Financial lowered their target price on SI-BONE from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Morgan Stanley reduced 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat, SI-BONE presently has an average rating of “Buy” and a consensus price target of $23.00.

SI-BONE Trading Down 4.5 %

The business has a 50 day simple moving average of $14.88 and a two-hundred day simple moving average of $14.65. The stock has a market cap of $529.07 million, a price-to-earnings ratio of -11.88 and a beta of 1.22. The company has a current ratio of 9.17, a quick ratio of 8.12 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.04. The firm had revenue of $39.97 million during the quarter, compared to the consensus estimate of $38.95 million. SI-BONE had a negative net margin of 27.10% and a negative return on equity of 24.27%. During the same quarter in the previous year, the company posted ($0.30) earnings per share. As a group, equities analysts anticipate that SI-BONE, Inc. will post -0.89 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Anshul Maheshwari sold 2,418 shares of SI-BONE stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.87, for a total value of $33,537.66. Following the transaction, the chief financial officer now directly owns 198,762 shares in the company, valued at $2,756,828.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other SI-BONE news, insider Anthony J. Recupero sold 3,305 shares of SI-BONE stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $13.58, for a total transaction of $44,881.90. Following the transaction, the insider now owns 233,412 shares of the company’s stock, valued at $3,169,734.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Anshul Maheshwari sold 2,418 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.87, for a total transaction of $33,537.66. Following the sale, the chief financial officer now owns 198,762 shares of the company’s stock, valued at approximately $2,756,828.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,019 shares of company stock worth $349,879. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SI-BONE

Large investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in SI-BONE during the second quarter worth approximately $61,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of SI-BONE by 24.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock worth $138,000 after buying an additional 2,108 shares during the period. Arizona State Retirement System grew its stake in SI-BONE by 9.0% in the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after buying an additional 903 shares during the last quarter. RiverPark Advisors LLC raised its holdings in SI-BONE by 260.4% in the 1st quarter. RiverPark Advisors LLC now owns 11,357 shares of the company’s stock worth $186,000 after acquiring an additional 8,206 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new position in SI-BONE during the 2nd quarter worth $151,000. Institutional investors own 98.11% of the company’s stock.

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.