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

Tenon Medical, Inc. (NASDAQ:TNON) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totalling 56,200 shares, a decrease of 93.1% from the September 15th total of 815,100 shares. Based on an average trading volume of 1,850,000 shares, the days-to-cover ratio is presently 0.0 days. Approximately 9.9% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Benchmark restated a “speculative buy” rating and set a $3.00 price target on shares of Tenon Medical in a research report on Wednesday, August 14th.

Tenon Medical Stock Down 1.1 %

TNON traded down $0.04 during trading on Friday, hitting $3.56. 299,284 shares of the company traded hands, compared to its average volume of 626,159. The firm has a market cap of $13.46 million, a P/E ratio of -0.52 and a beta of 2.19. The stock’s fifty day moving average is $2.56 and its 200 day moving average is $1.37. Tenon Medical has a one year low of $2.80 and a one year high of $37.60.

Tenon Medical (NASDAQ:TNON) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($1.02) earnings per share for the quarter. The company had revenue of $0.90 million for the quarter. Tenon Medical had a negative net margin of 411.27% and a negative return on equity of 4,819.46%.

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 transfixes the SI joints.