Tenon Medical, Inc. (NASDAQ:TNON) Short Interest Down 39.8% in July

Tenon Medical, Inc. (NASDAQ:TNON) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 33,900 shares, a decrease of 39.8% from the July 15th total of 56,300 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily volume of 33,400 shares, the days-to-cover ratio is presently 1.0 days.

Tenon Medical Stock Performance

Shares of TNON traded down $0.01 during mid-day trading on Tuesday, reaching $0.59. 53,348 shares of the company’s stock traded hands, compared to its average volume of 123,371. Tenon Medical has a 12 month low of $0.52 and a 12 month high of $4.70. The stock has a market capitalization of $2.21 million, a P/E ratio of -0.09 and a beta of 2.17. The business’s 50-day moving average price is $0.64 and its 200-day moving average price is $0.86.

Tenon Medical (NASDAQ:TNON) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($1.25) EPS for the quarter. The company had revenue of $0.72 million for the quarter. Tenon Medical had a negative net margin of 445.77% and a negative return on equity of 1,267.31%.

Analyst Upgrades and Downgrades

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

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.