Tenon Medical, Inc. (NASDAQ:TNON) Sees Significant Decline in Short Interest

Tenon Medical, Inc. (NASDAQ:TNON) saw a large decline in short interest in April. As of April 15th, there was short interest totalling 57,400 shares, a decline of 44.8% from the March 31st total of 104,000 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average trading volume of 254,100 shares, the days-to-cover ratio is presently 0.2 days.

Analysts Set New Price Targets

Separately, Benchmark dropped their target price on Tenon Medical from $5.00 to $3.00 and set a “speculative buy” rating for the company in a research report on Monday, April 15th.

Tenon Medical Stock Up 3.0 %

NASDAQ TNON opened at $0.75 on Friday. The stock has a 50-day moving average of $1.01 and a two-hundred day moving average of $1.26. Tenon Medical has a 1-year low of $0.71 and a 1-year high of $23.00.

Tenon Medical (NASDAQ:TNON) last released its earnings results on Tuesday, March 12th. The company reported ($0.68) earnings per share for the quarter. The firm had revenue of $0.81 million during the quarter. Tenon Medical had a negative net margin of 532.14% and a negative return on equity of 934.11%.

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 stabilizes and transfixes the SI joints.