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

Tenon Medical, Inc. (NASDAQ:TNON) was the target of a significant 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. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is presently 0.1 days. Approximately 4.1% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Maxim Group cut their price objective on Tenon Medical from $22.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, November 15th.

Tenon Medical Trading Up 2.8 %

Tenon Medical stock traded up $0.05 during mid-day trading on Friday, reaching $1.81. The company’s stock had a trading volume of 217,445 shares, compared to its average volume of 685,882. Tenon Medical has a twelve month low of $1.67 and a twelve month high of $15.79. The business has a 50 day moving average price of $2.69 and a 200-day moving average price of $2.15. The firm has a market cap of $5.68 million, a price-to-earnings ratio of -0.07 and a beta of 1.91.

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.