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

Tenon Medical, Inc. (NASDAQ:TNON) was the target of a large growth in short interest in 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 trading volume, of 1,410,000 shares, the short-interest ratio is presently 0.6 days.

Analyst Upgrades and Downgrades

Separately, Benchmark reissued 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 Stock Performance

Tenon Medical stock traded up $1.12 during midday trading on Wednesday, reaching $5.14. 16,200,922 shares of the stock were exchanged, compared to its average volume of 573,775. Tenon Medical has a 52 week low of $2.80 and a 52 week high of $37.60. The firm has a market cap of $2.62 million, a PE ratio of -0.60 and a beta of 2.17. The company’s fifty day moving average is $1.68 and its 200-day moving average is $1.12.

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

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.