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

Tenon Medical, Inc. (NASDAQ:TNON) saw a significant decrease in short interest in 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. Based on an average trading volume of 780,000 shares, the short-interest ratio is presently 0.1 days. Currently, 2.1% of the company’s stock are sold short.

Tenon Medical Stock Up 1.2 %

Shares of NASDAQ:TNON traded up $0.02 during mid-day trading on Wednesday, reaching $1.69. 107,011 shares of the stock were exchanged, compared to its average volume of 147,112. The company has a market cap of $5.30 million, a P/E ratio of -0.06 and a beta of 1.90. The stock’s 50 day simple moving average is $2.27 and its 200-day simple moving average is $2.28. Tenon Medical has a one year low of $1.65 and a one year high of $15.79.

Analyst Ratings Changes

Separately, Maxim Group dropped their price objective 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.

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.