The stock of SI-BONE, Inc. (NASDAQ:SIBN) is now priced at $16.52 and the shares are 0.32 points up or 1.98% higher compared to its previous closing price of $16.2. The stock had 104736 contracts set over the past session. SIBN shares’ daily volume is compared to its average trading volume at 0.177 million shares. However, it has a float of 22.68 million and although its performance was 2.27% over the week, it’s one to watch. Analysts have given the SIBN stock a yearly average price target of $23.86 per share. It means the stock’s upside potential is 44.43% with the SIBN share price recently placing at $16.15 to $16.97. However, some brokerage firms have priced the stock below the average, including one that has called $20.
The shorts are climbing into the SI-BONE, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the SIBN shares have risen. Short interest in the stock represents just 2.88% of its float, but the volume has raised by 303259. The volume of shorted shares rised to 654055 from 350796 shares over the last two weeks. The average intraday trading volume has been 229322 shares, which means that days to cover moved to roughly 2.852125.
In the last trading session, SI-BONE, Inc. (NASDAQ:SIBN) raised by $0.67 over the week and lost -$0.47 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $23.1. The stock recorded its established 52-week high on 01/28/20.
Since 03/18/20, the stock has traded to a low of $7.2 at 129.44%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, SI-BONE, Inc.’s two-week RSI is 52.13. This suggests that the stock is neutral at the moment and that SIBN shares’ price movement remains stable. The stochastic readings are equally revealing at 66.38% meaning the SIBN share price is currently in neutral territory.
The technical chart shows that the SIBN stock will likely settle at between $16.73 and $17.26 per share. However, if the stock dips below $15.91, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $15.62.
Currently, the stock is trading in the green of MACD, with a reading of 0.34. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned SIBN a rating of Overweight in their resuming review released on June 16. Needham analysts see the stock as a Buy, but they also dropped the share’s target price from $27 to $22 in a flash note released to investors on May 05. Needham analysts see the stock as Buy when the analysts initiated the share price coverage on February 19, placing it at $27.
The average rating for the SIBN equity is 1.71 and is currently gathering a bullish momentum. Of 7 analysts tracking SI-BONE, Inc. polled by Reuters, 0 rated SIBN as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (7) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the SIBN stocks P/S ratio currently stands below the group’s average of 36.6. SI-BONE, Inc. has its P/E ratio at 4, which means that the stock is currently trading at a discount relative to the 4.5 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for SI-BONE, Inc. (NASDAQ:SIBN) will decrease by about -99.95%, which will see them reach $8.29 million. The company’s full-year revenues are, however, expected to diminish by about -8.92%, down from $67.3 million to $61.3 million. SIBN’s expected adjusted earnings should surge almost 82.86% to end up at -$0.64 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 22.58% to record -$1.9/share.