In recent times, many medical device companies have come into prominence among investors and one of the companies that may have gone a bit under the radar is SI-BONE Inc (NASDAQ:SIBN).
Over the past few weeks, the stock has been in the middle of a consolidation phase and in such a situation, it might be a good move to start tracking the stock. There has been no news about SI-BONE in recent weeks but back in May the company had reported its financial results for the first fiscal quarter.
The company managed to generate global revenues of $20.4 million during the quarter, which worked out to a year on year rise of as much as 22%. The revenues generated in the United States amounted to $18.8 million, which worked out to a rise of 23% for the year ago period. The financial performance form the company proved to be quite strong and it remains to be seen if the stock eventually breaks out from its current period of consolidation.
Market Reaction:
On Thursday, SIBN stock down by .88% to $31.53 with more than 190K shares, compared to its average volume of 274K shares. The stock has moved within a range of $31.23 – 32.25 after opening the trade at $31.66. Over the past 52-week, the stock has been trading within a range of $14.43 – 37.21.
Moving Averages
| +/- EMA(20) | 31.41 (+0.38%) |
| +/- SMA(50) | 32.49 (-2.95%) |
| +/- SMA(200) | 28.31 (+11.37%) |
Pivot Points
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 30.0033 | 30.5967 | 31.0633 | 31.6567 | 32.1233 | 32.7167 | 33.1833 |
| Fibonacci | 30.5967 | 31.0016 | 31.2517 | 31.6567 | 32.0616 | 32.3117 | 32.7167 |
 Stock Consolidates in a Range: What Next?){kind=link}