Tenon Medical, Inc. (NASDAQ:TNON – Get Free Report) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 518,500 shares, a growth of 212.0% from the February 28th total of 166,200 shares. Currently, 16.5% of the company’s stock are short sold. Based on an average trading volume of 5,640,000 shares, the days-to-cover ratio is presently 0.1 days.
Institutional Trading of Tenon Medical
A number of hedge funds and other institutional investors have recently made changes to their positions in TNON. Spectrum Asset Management Inc. NB CA grew its stake in Tenon Medical by 155.9% during the 4th quarter. Spectrum Asset Management Inc. NB CA now owns 25,650 shares of the company’s stock worth $48,000 after buying an additional 15,625 shares during the last quarter. Geode Capital Management LLC purchased a new stake in Tenon Medical in the fourth quarter valued at approximately $34,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Tenon Medical in the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 22.74% of the company’s stock.
Tenon Medical Price Performance
Shares of TNON opened at $2.47 on Friday. Tenon Medical has a 1-year low of $0.91 and a 1-year high of $15.79. The stock has a market cap of $7.75 million, a PE ratio of -0.09 and a beta of 1.89. The firm has a fifty day moving average price of $1.53 and a 200 day moving average price of $2.56.
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.
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