Short Interest in Tenon Medical, Inc. (NASDAQ:TNON) Declines By 86.8%

Tenon Medical, Inc. (NASDAQ:TNON) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 6,100 shares, a decrease of 86.8% from the August 15th total of 46,100 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily volume of 20,100 shares, the days-to-cover ratio is presently 0.3 days.

Tenon Medical Stock Up 43.8 %

Shares of TNON stock traded up $1.34 on Thursday, reaching $4.40. The stock had a trading volume of 37,166,736 shares, compared to its average volume of 230,740. The firm’s 50-day moving average is $0.81 and its two-hundred day moving average is $0.84. The firm has a market capitalization of $16.64 million, a price-to-earnings ratio of -0.66 and a beta of 2.17. Tenon Medical has a 12 month low of $2.80 and a 12 month high of $37.60.

Tenon Medical (NASDAQ:TNON) last released 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 during the quarter. Tenon Medical had a negative net margin of 411.27% and a negative return on equity of 4,819.46%.

Wall Street Analyst Weigh In

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

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.