Short Interest in Tenon Medical, Inc. (NASDAQ:TNON) Drops By 22.7%

Tenon Medical, Inc. (NASDAQ:TNON) was the target of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 104,600 shares, a decrease of 22.7% from the November 15th total of 135,400 shares. Currently, 3.3% of the shares of the company are short sold. Based on an average daily volume of 2,560,000 shares, the days-to-cover ratio is presently 0.0 days.

Tenon Medical Stock Performance

NASDAQ TNON traded down $0.09 on Friday, hitting $1.96. 203,236 shares of the company’s stock were exchanged, compared to its average volume of 135,449. The firm’s 50-day moving average price is $3.05 and its two-hundred day moving average price is $2.07. Tenon Medical has a fifty-two week low of $1.86 and a fifty-two week high of $17.19.

Analysts Set New Price Targets

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