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

Tenon Medical, Inc. (NASDAQ:TNON) was the target of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 104,600 shares, a decrease of 22.7% from the November 15th total of 135,400 shares. Currently, 3.3% of the company’s stock are short sold. Based on an average daily volume of 2,560,000 shares, the days-to-cover ratio is currently 0.0 days.

Tenon Medical Stock Performance

Shares of Tenon Medical stock traded down $0.09 during trading hours on Friday, reaching $1.96. 203,236 shares of the company were exchanged, compared to its average volume of 705,027. The firm has a market cap of $6.15 million, a PE ratio of -0.07 and a beta of 1.91. Tenon Medical has a 1 year low of $1.86 and a 1 year high of $17.19. The stock’s fifty day moving average is $3.05 and its 200 day moving average is $2.06.

Wall Street Analysts Forecast Growth

Separately, Maxim Group lowered their price objective on shares of Tenon Medical from $22.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 15th.

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.