Tenon Medical, Inc. (NASDAQ:TNON) Short Interest Down 50.2% in December

Tenon Medical, Inc. (NASDAQ:TNON) saw a large drop in short interest in December. As of December 31st, there was short interest totalling 64,400 shares, a drop of 50.2% from the December 15th total of 129,400 shares. Based on an average trading volume of 780,000 shares, the short-interest ratio is presently 0.1 days. Currently, 2.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Maxim Group dropped their target price 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 Stock Up 1.2 %

Shares of NASDAQ:TNON traded up $0.02 during midday trading on Wednesday, hitting $1.69. The stock had a trading volume of 107,011 shares, compared to its average volume of 147,112. The company has a market cap of $5.30 million, a P/E ratio of -0.06 and a beta of 1.90. Tenon Medical has a 12 month low of $1.65 and a 12 month high of $15.79. The business’s 50-day simple moving average is $2.27 and its 200-day simple moving average is $2.28.

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.