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

Tenon Medical, Inc. (NASDAQ:TNON) was the recipient 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 trading volume, of 254,100 shares, the short-interest ratio is currently 0.2 days. Approximately 1.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, Benchmark cut their price target 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.

Tenon Medical Stock Performance

Shares of TNON traded up $0.02 on Friday, reaching $0.75. 28,678 shares of the company’s stock traded hands, compared to its average volume of 26,302. The stock’s 50 day simple moving average is $1.01 and its two-hundred day simple moving average is $1.26. Tenon Medical has a 52-week low of $0.71 and a 52-week high of $23.00.

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

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 stabilizes and transfixes the SI joints.