Short Interest in Tenon Medical, Inc. (NASDAQ:TNON) Rises By 13,262.3%

Tenon Medical, Inc. (NASDAQ:TNON) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 815,100 shares, a growth of 13,262.3% from the August 31st total of 6,100 shares. Based on an average daily volume of 1,410,000 shares, the days-to-cover ratio is presently 0.6 days.

Tenon Medical Price Performance

TNON stock opened at $4.89 on Friday. Tenon Medical has a 12 month low of $2.80 and a 12 month high of $37.60. The firm has a 50-day moving average price of $1.46 and a 200-day moving average price of $0.57.

Tenon Medical (NASDAQ:TNON) last issued its earnings results on Tuesday, August 13th. The company reported ($0.13) earnings per share for the quarter. The company had revenue of $0.90 million during the quarter. Tenon Medical had a negative net margin of 411.27% and a negative return on equity of 4,819.46%.

Wall Street Analyst Weigh In

Separately, Benchmark reissued a “speculative buy” rating and issued a $0.38 price objective on shares of Tenon Medical in a research note on Wednesday, August 14th.

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.