SI-Bone (NASDAQ:SIBN) Shares Up 5.2%

SI-Bone Inc (NASDAQ:SIBN)’s share price shot up 5.2% on Thursday . The stock traded as high as $19.06 and last traded at $18.94. 265,129 shares traded hands during mid-day trading, an increase of 155% from the average session volume of 103,883 shares. The stock had previously closed at $18.00.

Several research firms have recently weighed in on SIBN. Zacks Investment Research cut shares of SI-Bone from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. ValuEngine cut shares of SI-Bone from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $24.75.

The company has a market cap of $499.55 million and a P/E ratio of -28.65. The company has a current ratio of 13.06, a quick ratio of 12.70 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average is $16.96.

SI-Bone (NASDAQ:SIBN) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.13). The firm had revenue of $14.99 million for the quarter. Equities analysts predict that SI-Bone Inc will post -1.45 EPS for the current year.

In other news, insider Scott A. Yerby sold 10,133 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $17.52, for a total value of $177,530.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Laura Francis sold 2,000 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.96, for a total transaction of $31,920.00. The disclosure for this sale can be found here. In the last three months, insiders sold 45,310 shares of company stock worth $759,064. 38.80% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc bought a new stake in SI-Bone during the fourth quarter worth $27,000. Citigroup Inc. bought a new stake in SI-Bone during the fourth quarter worth $46,000. Valeo Financial Advisors LLC bought a new stake in SI-Bone during the first quarter worth $94,000. American International Group Inc. bought a new stake in SI-Bone during the fourth quarter worth $115,000. Finally, Deutsche Bank AG bought a new stake in SI-Bone during the fourth quarter worth $227,000. 38.89% of the stock is currently owned by institutional investors and hedge funds.

About SI-Bone (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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