Tenon Medical, Inc. (NASDAQ:TNON) Short Interest Up 23.7% in December

Tenon Medical, Inc. (NASDAQ:TNON) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 129,400 shares, a growth of 23.7% from the November 30th total of 104,600 shares. Currently, 4.1% of the shares of the stock are short sold. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is currently 0.1 days.

Tenon Medical Price Performance

Shares of TNON opened at $1.91 on Tuesday. Tenon Medical has a 1-year low of $1.67 and a 1-year high of $15.79. The company has a market capitalization of $5.99 million, a P/E ratio of -0.07 and a beta of 1.91. The firm’s 50 day simple moving average is $2.69 and its 200 day simple moving average is $2.16.

Wall Street Analysts Forecast Growth

Separately, Maxim Group reduced their target price on Tenon Medical from $22.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 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.