SI-Bone Inc (NASDAQ:SIBN) Short Interest Up 32.4% in June

SI-Bone Inc (NASDAQ:SIBN) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 364,700 shares, an increase of 32.4% from the May 30th total of 275,400 shares. Approximately 2.5% of the company’s stock are sold short. Based on an average trading volume of 159,300 shares, the days-to-cover ratio is presently 2.3 days.

In other news, insider Scott A. Yerby sold 10,133 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $16.05, for a total transaction of $162,634.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott A. Yerby sold 30,376 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $20.00, for a total value of $607,520.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,334 shares of company stock valued at $1,678,902. 38.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SIBN. Legal & General Group Plc acquired a new stake in SI-Bone in the fourth quarter worth $27,000. Citigroup Inc. acquired a new position in shares of SI-Bone during the fourth quarter valued at $46,000. Valeo Financial Advisors LLC acquired a new position in shares of SI-Bone during the first quarter valued at $94,000. American International Group Inc. acquired a new position in shares of SI-Bone during the fourth quarter valued at $115,000. Finally, Deutsche Bank AG acquired a new position in shares of SI-Bone during the fourth quarter valued at $227,000. 38.89% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ SIBN traded up $0.15 during trading hours on Friday, hitting $19.80. The company had a trading volume of 79,864 shares, compared to its average volume of 217,339. SI-Bone has a fifty-two week low of $14.08 and a fifty-two week high of $23.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 13.06 and a quick ratio of 12.70. The business has a fifty day moving average of $17.91.

SI-Bone (NASDAQ:SIBN) last issued its 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 business had revenue of $14.99 million during the quarter. Equities research analysts expect that SI-Bone will post -1.45 earnings per share for the current fiscal year.

Several equities analysts have recently commented on the company. Zacks Investment Research cut Yatra Online from a “hold” rating to a “sell” rating in a research note on Saturday, July 6th. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $24.75.

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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