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

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

Tenon Medical Price Performance

Shares of TNON traded up $0.02 during mid-day trading on Friday, reaching $0.75. The company’s stock had a trading volume of 28,678 shares, compared to its average volume of 207,112. Tenon Medical has a 12-month low of $0.71 and a 12-month high of $23.00. The stock has a market cap of $2.80 million, a PE ratio of -0.08 and a beta of 2.24. The company’s 50 day moving average is $1.01 and its 200 day moving average is $1.26.

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

Analyst Ratings Changes

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

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.