Tenon Medical, Inc. (NASDAQ:TNON) Sees Large Growth in Short Interest

Tenon Medical, Inc. (NASDAQ:TNON) was the recipient of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 46,100 shares, an increase of 36.0% from the July 31st total of 33,900 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 36,100 shares, the short-interest ratio is currently 1.3 days.

Tenon Medical Stock Performance

TNON opened at $0.49 on Friday. The stock has a market capitalization of $1.94 million, a P/E ratio of -0.07 and a beta of 2.17. Tenon Medical has a one year low of $0.35 and a one year high of $4.70. The business’s 50-day simple moving average is $0.61 and its 200-day simple moving average is $0.80.

Analysts Set New Price Targets

Separately, Benchmark reaffirmed a “speculative buy” rating and issued a $3.00 price target on shares of Tenon Medical in a research report on Wednesday, August 14th.

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.