Benchmark Trims Tenon Medical (NASDAQ:TNON) Target Price to $3.00

Tenon Medical (NASDAQ:TNON) had its price target trimmed by Benchmark from $5.00 to $3.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a speculative buy rating on the stock.

Tenon Medical Price Performance

Shares of NASDAQ:TNON opened at $0.77 on Monday. The company has a market capitalization of $2.87 million, a price-to-earnings ratio of -0.08 and a beta of 2.24. The firm’s 50 day simple moving average is $1.07 and its 200 day simple moving average is $1.23. Tenon Medical has a fifty-two week low of $0.71 and a fifty-two week high of $23.00.

Tenon Medical (NASDAQ:TNON) last announced its earnings results on Tuesday, March 12th. The company reported ($0.68) EPS for the quarter. The company had revenue of $0.81 million for the quarter. Tenon Medical had a negative return on equity of 934.11% and a negative net margin of 532.14%.

Hedge Funds Weigh In On Tenon Medical

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. bought a new position in shares of Tenon Medical in the fourth quarter valued at $27,000. Vanguard Group Inc. bought a new position in shares of Tenon Medical in the fourth quarter valued at $38,000. BlackRock Inc. grew its stake in shares of Tenon Medical by 27.8% in the first quarter. BlackRock Inc. now owns 128,556 shares of the company’s stock valued at $228,000 after buying an additional 27,982 shares in the last quarter. State Street Corp bought a new position in shares of Tenon Medical in the third quarter valued at $42,000. Finally, Renaissance Technologies LLC bought a new position in Tenon Medical during the first quarter worth $73,000. 22.74% of the stock is owned by institutional investors.

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 stabilizes and transfixes the SI joints.