Tenon Medical, Inc. (NASDAQ:TNON) Sees Large Drop in Short Interest

Tenon Medical, Inc. (NASDAQ:TNON) saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 57,400 shares, a decrease of 44.8% from the March 31st total of 104,000 shares. Based on an average daily trading volume, of 254,100 shares, the days-to-cover ratio is currently 0.2 days. Approximately 1.8% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Benchmark cut their price target on shares of Tenon Medical from $5.00 to $3.00 and set a “speculative buy” rating on the stock in a report on Monday, April 15th.

Tenon Medical Trading Up 3.0 %

Shares of NASDAQ:TNON opened at $0.75 on Friday. Tenon Medical has a twelve month low of $0.71 and a twelve month high of $23.00. The company’s 50 day moving average is $1.01 and its 200 day moving average is $1.26.

Tenon Medical (NASDAQ:TNON) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.68) earnings per share for the quarter. Tenon Medical had a negative return on equity of 934.11% and a negative net margin of 532.14%. The business had revenue of $0.81 million during the quarter.

Tenon Medical Company Profile

Tenon Medical, Inc, a medical device company, engages in the development of surgical implant systems to treat severe lower back pain in the United States and Puerto Rico. The company offers CATAMARAN SI-Joint Fusion System to fuse sacroiliac joints (SI-Joints) to treat SI-Joint dysfunction that often causes severe lower back pain; and features fixation device that passes through the axial and sagittal planes of the ilium and sacrum, as well as stabilizes and transfixes the SI joints.