Tenon Medical, Inc. (NASDAQ:TNON) Short Interest Update

Tenon Medical, Inc. (NASDAQ:TNON) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 140,700 shares, a decrease of 76.7% from the March 31st total of 602,800 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average trading volume of 6,840,000 shares, the short-interest ratio is presently 0.0 days.

Institutional Investors Weigh In On Tenon Medical

Several large investors have recently made changes to their positions in TNON. Renaissance Technologies LLC bought a new position in Tenon Medical during the fourth quarter valued at approximately $51,000. Spectrum Asset Management Inc. NB CA grew its holdings in shares of Tenon Medical by 155.9% in the fourth quarter. Spectrum Asset Management Inc. NB CA now owns 25,650 shares of the company’s stock valued at $48,000 after purchasing an additional 15,625 shares in the last quarter. Finally, Geode Capital Management LLC bought a new stake in Tenon Medical in the fourth quarter worth $34,000. 22.74% of the stock is owned by institutional investors.

Tenon Medical Trading Up 0.4 %

TNON traded up $0.01 during trading on Monday, hitting $1.18. 142,248 shares of the company traded hands, compared to its average volume of 2,465,690. The company has a market cap of $7.29 million, a PE ratio of -0.04 and a beta of 1.16. Tenon Medical has a 1 year low of $0.91 and a 1 year high of $15.79. The stock’s 50-day simple moving average is $1.37 and its two-hundred day simple moving average is $2.01.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners began coverage on Tenon Medical in a research report on Wednesday, April 9th. They set a “buy” rating and a $3.00 target price for the company.

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.