Short Interest in Tenon Medical, Inc. (NASDAQ:TNON) Drops By 34.5%

Tenon Medical, Inc. (NASDAQ:TNON) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 135,400 shares, a decline of 34.5% from the October 31st total of 206,700 shares. Currently, 4.3% of the company’s shares are sold short. Based on an average trading volume of 2,550,000 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Benchmark reiterated a “speculative buy” rating and issued a $3.00 target price on shares of Tenon Medical in a research report on Wednesday, August 14th. Maxim Group decreased their price objective on Tenon Medical from $22.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, November 15th.

Tenon Medical Trading Down 2.1 %

Shares of NASDAQ:TNON traded down $0.05 during trading on Friday, reaching $2.29. 61,853 shares of the company traded hands, compared to its average volume of 728,388. Tenon Medical has a 52-week low of $2.20 and a 52-week high of $20.00. The firm has a market capitalization of $7.18 million, a price-to-earnings ratio of -0.08 and a beta of 2.15. The business’s fifty day moving average is $3.52 and its 200-day moving average is $1.97.

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 transfixes the SI joints.