SI-Bone (NASDAQ:SIBN) Stock Rating Upgraded by ValuEngine

SI-Bone (NASDAQ:SIBN) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday, ValuEngine reports.

Separately, Zacks Investment Research raised SI-Bone from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $24.75.

SI-Bone stock traded down $0.22 during midday trading on Thursday, reaching $17.70. The stock had a trading volume of 77,111 shares, compared to its average volume of 98,782. The company’s fifty day moving average is $18.95. SI-Bone has a 1-year low of $14.08 and a 1-year high of $23.03. The company has a debt-to-equity ratio of 0.47, a quick ratio of 12.70 and a current ratio of 13.06.

SI-Bone (NASDAQ:SIBN) last announced its earnings results on Wednesday, May 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.13). The company had revenue of $14.99 million during the quarter. As a group, equities research analysts predict that SI-Bone will post -1.45 EPS for the current year.

In related news, CMO W Carlton Reckling sold 5,153 shares of SI-Bone stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $20.01, for a total value of $103,111.53. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Laura Francis sold 2,000 shares of SI-Bone stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.96, for a total value of $31,920.00. The disclosure for this sale can be found here. In the last three months, insiders sold 100,285 shares of company stock worth $1,886,723. 38.80% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Legal & General Group Plc acquired a new position in shares of SI-Bone during the 4th quarter worth approximately $27,000. Citigroup Inc. acquired a new position in shares of SI-Bone during the 4th quarter worth approximately $46,000. Valeo Financial Advisors LLC acquired a new position in shares of SI-Bone during the 1st quarter worth approximately $94,000. American International Group Inc. acquired a new position in shares of SI-Bone during the 4th quarter worth approximately $115,000. Finally, Private Ocean LLC acquired a new position in shares of SI-Bone during the 2nd quarter worth approximately $131,000. 39.24% of the stock is currently owned by hedge funds and other institutional investors.

About SI-Bone

SI-BONE, Inc, a medical device company, develops and commercializes a proprietary minimally invasive surgical implant system in the United States and Internationally. It offers iFuse, an implant system to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain. The company was founded in 2008 and is headquartered in Santa Clara, California.

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