Tenon Medical, Inc. (NASDAQ:TNON – Get Free Report) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 60,789 shares, a decrease of 88.7% from the September 15th total of 539,306 shares. Currently, 11.1% of the company’s shares are short sold. Based on an average trading volume of 5,515,981 shares, the days-to-cover ratio is currently 0.0 days.
Insider Buying and Selling
In other Tenon Medical news, major shareholder Financial Lp Hrt sold 65,582 shares of Tenon Medical stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $5.56, for a total transaction of $364,635.92. Following the transaction, the insider directly owned 15,839 shares in the company, valued at approximately $88,064.84. The trade was a 80.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders acquired 129,945 shares of company stock worth $500,468 and sold 136,599 shares worth $605,467. Insiders own 17.71% of the company’s stock.
Tenon Medical Stock Down 0.9%
TNON traded down $0.03 during midday trading on Friday, hitting $3.41. The company had a trading volume of 129,891 shares, compared to its average volume of 4,365,090. The stock’s 50 day moving average price is $4.77 and its 200 day moving average price is $14.57. The company has a market capitalization of $2.28 million, a price-to-earnings ratio of -0.08 and a beta of 1.35. Tenon Medical has a 52 week low of $2.40 and a 52 week high of $50.40.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of Tenon Medical to a “hold” rating in a research report on Saturday, August 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tenon Medical in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.
View Our Latest Research Report on Tenon Medical
About Tenon Medical
Tenon Medical, Inc is a medical device company focused on developing and commercializing technologies for sacroiliac (SI) joint dysfunction, a source of lower-back and pelvic pain. The company’s lead product is the Catamaran SI Joint Fusion System, a minimally invasive implant system designed to stabilize and fuse the SI joint.
The Catamaran system is designed to transfix the SI joint through a single surgical approach and uses a proprietary implant intended to provide fixation across the joint.
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