SI-Bone Inc (NASDAQ:SIBN) Short Interest Down 12.5% in November

SI-Bone Inc (NASDAQ:SIBN) was the recipient of a large drop in short interest in November. As of November 29th, there was short interest totalling 835,200 shares, a drop of 12.5% from the November 14th total of 954,300 shares. Based on an average daily volume of 117,200 shares, the days-to-cover ratio is presently 7.1 days. Currently, 5.2% of the shares of the stock are sold short.

In other SI-Bone news, CMO W Carlton Reckling sold 5,000 shares of SI-Bone stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Also, CEO Jeffrey W. Dunn sold 40,000 shares of SI-Bone stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $18.51, for a total value of $740,400.00. In the last quarter, insiders have sold 106,492 shares of company stock valued at $1,915,993. 38.80% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in shares of SI-Bone in the 2nd quarter valued at about $28,000. Metropolitan Life Insurance Co NY acquired a new position in shares of SI-Bone in the 3rd quarter valued at about $107,000. Citadel Advisors LLC acquired a new position in shares of SI-Bone in the 2nd quarter valued at about $272,000. Panagora Asset Management Inc. lifted its stake in shares of SI-Bone by 107.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 33,441 shares of the company’s stock valued at $680,000 after purchasing an additional 17,284 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of SI-Bone by 50.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 45,205 shares of the company’s stock valued at $919,000 after purchasing an additional 15,111 shares in the last quarter. 51.00% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have commented on the company. Zacks Investment Research cut SI-Bone from a “hold” rating to a “sell” rating in a report on Friday, November 15th. ValuEngine cut SI-Bone from a “buy” rating to a “hold” rating in a report on Saturday, December 7th.

SIBN traded up $0.64 during midday trading on Friday, hitting $19.70. The company’s stock had a trading volume of 415,381 shares, compared to its average volume of 95,716. The company has a current ratio of 8.78, a quick ratio of 8.40 and a debt-to-equity ratio of 0.57. The firm has a market cap of $460.10 million, a P/E ratio of -27.75 and a beta of -0.58. The firm has a 50-day moving average price of $17.69 and a two-hundred day moving average price of $18.21. SI-Bone has a 52-week low of $14.08 and a 52-week high of $23.03.

SI-Bone (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, November 11th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.10). The business had revenue of $16.18 million during the quarter. SI-Bone had a negative net margin of 54.85% and a negative return on equity of 42.29%. On average, equities analysts expect that SI-Bone will post -1.51 EPS for the current year.

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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