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

Tenon Medical, Inc. (NASDAQ:TNON) saw a significant 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. Currently, 1.8% of the shares of the stock are short sold.

Analysts Set New Price Targets

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

Tenon Medical Trading Up 3.0 %

Shares of NASDAQ:TNON traded up $0.02 during 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. The stock has a market capitalization of $2.80 million, a PE ratio of -0.08 and a beta of 2.24. Tenon Medical has a 12 month low of $0.71 and a 12 month high of $23.00. The firm’s 50 day simple moving average is $1.01 and its two-hundred day simple moving average is $1.26.

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

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.