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

Tenon Medical, Inc. (NASDAQ:TNON) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 135,400 shares, a decline of 34.5% from the October 31st total of 206,700 shares. Based on an average daily volume of 2,550,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 4.3% of the company’s stock are short sold.

Analysts Set New Price Targets

Several analysts have recently issued reports on TNON shares. Maxim Group reduced their target price on shares of Tenon Medical from $22.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Benchmark reiterated 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 Price Performance

Shares of NASDAQ TNON traded down $0.05 during trading on Friday, hitting $2.29. The stock had a trading volume of 61,853 shares, compared to its average volume of 728,388. Tenon Medical has a 12 month low of $2.20 and a 12 month high of $20.00. The company has a market capitalization of $7.18 million, a PE ratio of -0.08 and a beta of 2.15. The firm has a fifty day moving average of $3.52 and a two-hundred day moving average of $1.97.

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.