Tenon Medical, Inc. (NASDAQ:TNON) Short Interest Down 34.5% in November

Tenon Medical, Inc. (NASDAQ:TNON) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 135,400 shares, a drop of 34.5% from the October 31st total of 206,700 shares. Based on an average daily trading volume, of 2,550,000 shares, the short-interest ratio is presently 0.1 days. Approximately 4.3% of the shares of the company are short sold.

Tenon Medical Price Performance

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Maxim Group decreased their price objective on shares of Tenon Medical from $22.00 to $8.00 and set a “buy” rating for the company in a report on Friday, November 15th. Benchmark restated a “speculative buy” rating and set a $3.00 price objective on shares of Tenon Medical in a 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.