Tenon Medical, Inc. (NASDAQ:TNON) Short Interest Up 60.9% in July

Tenon Medical, Inc. (NASDAQ:TNON) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 56,300 shares, a growth of 60.9% from the June 30th total of 35,000 shares. Based on an average trading volume of 26,900 shares, the short-interest ratio is currently 2.1 days. Currently, 1.7% of the shares of the stock are sold short.

Tenon Medical Price Performance

NASDAQ TNON opened at $0.64 on Friday. The stock’s fifty day moving average is $0.68 and its two-hundred day moving average is $0.94. Tenon Medical has a fifty-two week low of $0.55 and a fifty-two week high of $4.70.

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

Wall Street Analyst Weigh In

Separately, Benchmark lowered their price target on Tenon Medical from $5.00 to $3.00 and set a “speculative buy” rating on the stock in a research note 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.