SI-Bone Inc (NASDAQ:SIBN) Short Interest Down 10.9% in July

SI-Bone Inc (NASDAQ:SIBN) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 721,300 shares, a drop of 10.9% from the June 30th total of 809,200 shares. Based on an average trading volume of 160,900 shares, the short-interest ratio is presently 4.5 days. Currently, 5.0% of the company’s shares are short sold.

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

Shares of NASDAQ:SIBN traded down $0.21 on Wednesday, reaching $18.44. The company had a trading volume of 285,572 shares, compared to its average volume of 119,476. SI-Bone has a 52-week low of $14.08 and a 52-week high of $23.03. The business has a 50 day moving average of $19.11. The firm has a market capitalization of $452.96 million and a price-to-earnings ratio of -25.97. The company has a quick ratio of 12.70, a current ratio of 13.06 and a debt-to-equity ratio of 0.47.

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 the Zacks’ consensus estimate of ($0.40) by $0.05. SI-Bone had a negative return on equity of 211.17% and a negative net margin of 46.59%. The business had revenue of $16.32 million for the quarter. As a group, equities analysts expect that SI-Bone will post -1.45 EPS for the current year.

In other SI-Bone news, CMO W Carlton Reckling sold 15,000 shares of SI-Bone stock in a transaction on Friday, June 28th. The stock was sold at an average price of $20.00, for a total transaction of $300,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold a total of 89,377 shares of company stock valued at $1,710,763 over the last three months. 38.80% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Federated Investors Inc. PA grew its stake in SI-Bone by 111.4% during the 1st quarter. Federated Investors Inc. PA now owns 370,000 shares of the company’s stock worth $6,971,000 after buying an additional 195,000 shares during the last quarter. Northern Trust Corp purchased a new position in SI-Bone during the 4th quarter worth $2,109,000. Granite Investment Partners LLC purchased a new position in SI-Bone during the 1st quarter worth $851,000. Geode Capital Management LLC purchased a new position in SI-Bone during the 4th quarter worth $1,972,000. Finally, Legal & General Group Plc purchased a new position in SI-Bone during the 4th quarter worth $27,000. Institutional investors and hedge funds own 39.35% of the company’s stock.

SI-Bone Company Profile

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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