Short Interest in Tenon Medical, Inc. (NASDAQ:TNON) Decreases By 50.2%

Tenon Medical, Inc. (NASDAQ:TNON) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 64,400 shares, a decrease of 50.2% from the December 15th total of 129,400 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average trading volume of 780,000 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

Separately, Maxim Group decreased their price target on shares of Tenon Medical from $22.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, November 15th.

Tenon Medical Stock Performance

Shares of NASDAQ:TNON traded up $0.09 during mid-day trading on Thursday, reaching $1.78. 94,364 shares of the company’s stock were exchanged, compared to its average volume of 141,200. The firm has a market capitalization of $5.59 million, a price-to-earnings ratio of -0.07 and a beta of 1.90. Tenon Medical has a twelve month low of $1.65 and a twelve month high of $15.79. The business’s fifty day moving average price is $2.23 and its 200-day moving average price is $2.27.

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.