Tenon Medical, Inc. (NASDAQ:TNON) Sees Large Growth in Short Interest

Tenon Medical, Inc. (NASDAQ:TNON) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 518,500 shares, a growth of 212.0% from the February 28th total of 166,200 shares. Based on an average daily volume of 5,640,000 shares, the short-interest ratio is currently 0.1 days. Approximately 16.5% of the company’s stock are short sold.

Tenon Medical Stock Down 17.7 %

Shares of Tenon Medical stock opened at $2.31 on Friday. The stock has a market cap of $7.23 million, a PE ratio of -0.08 and a beta of 1.89. Tenon Medical has a 12 month low of $0.91 and a 12 month high of $15.79. The business has a fifty day simple moving average of $1.52 and a 200-day simple moving average of $2.56.

Institutional Investors Weigh In On Tenon Medical

A number of institutional investors have recently bought and sold shares of TNON. Geode Capital Management LLC acquired a new position in shares of Tenon Medical in the 4th quarter valued at about $34,000. Spectrum Asset Management Inc. NB CA grew its position in Tenon Medical by 155.9% during 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, Renaissance Technologies LLC acquired a new position in Tenon Medical in the 4th quarter valued at approximately $51,000. 22.74% of the stock is currently owned by institutional investors and hedge funds.

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.