Tenon Medical, Inc. (NASDAQ:TNON) Short Interest Update

Tenon Medical, Inc. (NASDAQ:TNON) saw a significant decline in short interest during the month of April. As of April 30th, there was short interest totalling 20,800 shares, a decline of 63.8% from the April 15th total of 57,400 shares. Based on an average daily trading volume, of 254,700 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.7% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Tenon Medical Trading Up 4.8 %

TNON traded up $0.04 during trading on Friday, hitting $0.88. 21,920 shares of the company’s stock were exchanged, compared to its average volume of 185,940. Tenon Medical has a 1 year low of $0.71 and a 1 year high of $20.19. The stock has a 50 day moving average price of $0.95 and a 200 day moving average price of $1.30. The firm has a market cap of $3.28 million, a P/E ratio of -0.09 and a beta of 2.21.

Tenon Medical (NASDAQ:TNON) last announced 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 for the quarter.

About Tenon Medical

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.