SI-BONE, Inc. (NASDAQ:SIBN) Short Interest Down 21.6% in November

SI-BONE, Inc. (NASDAQ:SIBN) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 1,270,000 shares, a decrease of 21.6% from the October 31st total of 1,620,000 shares. Based on an average daily volume of 365,000 shares, the days-to-cover ratio is presently 3.5 days.

Insiders Place Their Bets

In other SI-BONE news, insider Anthony J. Recupero sold 3,305 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $13.58, for a total value of $44,881.90. Following the transaction, the insider now owns 233,412 shares of the company’s stock, valued at approximately $3,169,734.96. This represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laura Francis sold 10,048 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $12.58, for a total transaction of $126,403.84. Following the sale, the chief executive officer now owns 482,875 shares in the company, valued at approximately $6,074,567.50. The trade was a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,093 shares of company stock worth $299,558 in the last three months. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SIBN. Vanguard Group Inc. raised its position in SI-BONE by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock valued at $40,328,000 after purchasing an additional 43,670 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in SI-BONE by 7.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,494 shares of the company’s stock worth $336,000 after purchasing an additional 1,372 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in SI-BONE by 440.5% in the 2nd 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. Assenagon Asset Management S.A. bought a new stake in shares of SI-BONE during the 2nd quarter valued at approximately $152,000. Finally, Charter Oak Capital Management LLC acquired a new stake in SI-BONE during the 2nd quarter worth approximately $310,000. Institutional investors and hedge funds own 98.11% of the company’s stock.

Wall Street Analyst Weigh In

SIBN has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of SI-BONE in a research note on Wednesday, November 20th. Truist Financial upped 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. Finally, Morgan Stanley cut their price target on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, SI-BONE presently has a consensus rating of “Buy” and a consensus price target of $23.00.

SI-BONE Stock Performance

Shares of NASDAQ SIBN traded up $0.29 during trading on Friday, reaching $13.56. The stock had a trading volume of 147,807 shares, compared to its average volume of 409,928. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. SI-BONE has a one year low of $11.70 and a one year high of $21.70. The firm’s 50 day moving average price is $13.48 and its two-hundred day moving average price is $14.14. The stock has a market cap of $568.71 million, a PE ratio of -14.74 and a beta of 1.22.

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.