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

Tenon Medical, Inc. (NASDAQ:TNON) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 104,000 shares, a drop of 68.9% from the March 15th total of 334,000 shares. Approximately 3.3% of the shares of the stock are short sold. Based on an average trading volume of 252,300 shares, the days-to-cover ratio is currently 0.4 days.

Tenon Medical Price Performance

Shares of NASDAQ TNON traded down $0.07 during mid-day trading on Friday, hitting $0.80. 42,286 shares of the stock traded hands, compared to its average volume of 70,565. The company has a market cap of $2.99 million, a PE ratio of -0.08 and a beta of 2.24. Tenon Medical has a twelve month low of $0.77 and a twelve month high of $23.00. The firm has a 50 day simple moving average of $1.09 and a two-hundred day simple moving average of $1.21.

Tenon Medical (NASDAQ:TNON) last announced its earnings results on Tuesday, March 12th. The company reported ($0.68) earnings per share (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%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. bought a new position in shares of Tenon Medical in the 4th quarter worth about $27,000. Vanguard Group Inc. bought a new position in shares of Tenon Medical in the 4th quarter worth about $38,000. BlackRock Inc. raised its position in shares of Tenon Medical by 27.8% in the 1st quarter. BlackRock Inc. now owns 128,556 shares of the company’s stock worth $228,000 after acquiring an additional 27,982 shares in the last quarter. State Street Corp bought a new position in shares of Tenon Medical in the 3rd quarter worth about $42,000. Finally, Renaissance Technologies LLC bought a new position in shares of Tenon Medical in the 1st quarter worth about $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.