SI-Bone (NASDAQ:SIBN) Shares Up 5%

SI-Bone Inc (NASDAQ:SIBN) shares shot up 5% on Friday . The company traded as high as $20.00 and last traded at $19.56, 183,982 shares changed hands during trading. An increase of 51% from the average session volume of 122,171 shares. The stock had previously closed at $18.62.

A number of research firms recently weighed in on SIBN. ValuEngine upgraded shares of SI-Bone from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of SI-Bone from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $24.75.

The company has a debt-to-equity ratio of 0.50, a quick ratio of 12.70 and a current ratio of 12.00. The company has a market capitalization of $458.11 million and a P/E ratio of -27.55. The business’s fifty day simple moving average is $19.15 and its 200-day simple moving average is $18.10.

SI-Bone (NASDAQ:SIBN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. The company had revenue of $16.32 million for the quarter. SI-Bone had a negative net margin of 46.59% and a negative return on equity of 84.84%. As a group, analysts forecast that SI-Bone Inc will post -1.4 EPS for the current year.

In other SI-Bone news, Chairman Jeffrey W. Dunn sold 1,436 shares of SI-Bone stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $20.16, for a total value of $28,949.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Skyline Venture Partners V. Lp sold 400,000 shares of SI-Bone stock in a transaction on Monday, August 12th. The shares were sold at an average price of $18.25, for a total transaction of $7,300,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 487,377 shares of company stock worth $8,978,843. 38.80% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Northern Trust Corp purchased a new position in SI-Bone in the fourth quarter valued at approximately $2,109,000. Geode Capital Management LLC purchased a new position in SI-Bone in the fourth quarter valued at approximately $1,972,000. Bank of America Corp DE purchased a new position in SI-Bone in the fourth quarter valued at approximately $683,000. Legal & General Group Plc purchased a new position in SI-Bone in the fourth quarter valued at approximately $27,000. Finally, Millennium Management LLC purchased a new position in SI-Bone in the fourth quarter valued at approximately $3,362,000. Hedge funds and other institutional investors own 39.35% of the company’s stock.

SI-Bone Company Profile (NASDAQ:SIBN)

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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