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

Tenon Medical, Inc. (NASDAQ:TNON) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 815,100 shares, an increase 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 short-interest ratio is currently 0.6 days.

Tenon Medical Stock Up 34.1 %

Shares of NASDAQ:TNON opened at $5.39 on Thursday. The firm has a market capitalization of $20.38 million, a PE ratio of -0.81 and a beta of 2.17. The company has a 50-day moving average price of $1.78 and a two-hundred day moving average price of $1.14. Tenon Medical has a twelve month low of $2.80 and a twelve month high of $37.60.

Tenon Medical (NASDAQ:TNON) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($1.02) EPS for the quarter. Tenon Medical had a negative return on equity of 4,819.46% and a negative net margin of 411.27%. The business had revenue of $0.90 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Benchmark restated a “speculative buy” rating and issued a $3.00 target price on shares of Tenon Medical in a research note 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.