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

Tenon Medical, Inc. (NASDAQ:TNONGet Rating) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 74,900 shares, a drop of 26.4% from the August 15th total of 101,700 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 336,500 shares, the days-to-cover ratio is presently 0.2 days.

Tenon Medical Trading Down 1.0 %

Tenon Medical stock opened at $1.97 on Friday. The business’s 50 day moving average price is $2.16. Tenon Medical has a 52 week low of $1.88 and a 52 week high of $59.89.

Analysts Set New Price Targets

Separately, Benchmark initiated coverage on shares of Tenon Medical in a research report on Tuesday, June 21st. They set a “speculative buy” rating and a $6.00 target price on the stock.

Institutional Investors Weigh In On Tenon Medical

A hedge fund recently bought a new stake in Tenon Medical stock. TMD Wealth Management LLC purchased a new position in Tenon Medical, Inc. (NASDAQ:TNONGet Rating) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 514,969 shares of the company’s stock, valued at approximately $1,164,000. Tenon Medical accounts for about 0.5% of TMD Wealth Management LLC’s investment portfolio, making the stock its 17th biggest position. TMD Wealth Management LLC owned approximately 4.58% of Tenon Medical at the end of the most recent quarter.

About Tenon Medical

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Tenon Medical, Inc, a medical device company, develops surgical implant systems to optimize sacroiliac joint fixation/fusion surgery and corresponding outcomes. It sells The CATAMARAN SIJ Fusion System that includes instruments and implants designed to prepare and fixate the SI-Joint for fusion in the United States and Puerto Rico.

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