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

Tenon Medical, Inc. (NASDAQ:TNON) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 334,000 shares, an increase of 2,068.8% from the February 29th total of 15,400 shares. Currently, 15.3% of the company’s shares are short sold. Based on an average daily volume of 256,200 shares, the short-interest ratio is presently 1.3 days.

Tenon Medical Trading Down 5.7 %

Shares of Tenon Medical stock opened at $0.90 on Thursday. The firm has a market cap of $2.22 million, a P/E ratio of -0.09 and a beta of 2.26. Tenon Medical has a 12 month low of $0.77 and a 12 month high of $23.00. The stock’s fifty day moving average price is $1.19 and its 200-day moving average price is $1.16.

Hedge Funds Weigh In On Tenon Medical

Institutional investors have recently made changes to their positions in the company. Spectrum Asset Management Inc. NB CA increased its stake in shares of Tenon Medical by 406.4% during the third quarter. Spectrum Asset Management Inc. NB CA now owns 1,082,606 shares of the company’s stock valued at $168,000 after buying an additional 868,820 shares during the period. BlackRock Inc. grew its stake in 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 purchasing an additional 27,982 shares during the last quarter. Geode Capital Management LLC purchased a new position in Tenon Medical in the first quarter valued at about $181,000. Walleye Capital LLC purchased a new position in Tenon Medical in the second quarter valued at about $124,000. Finally, Vanguard Group Inc. boosted its holdings in Tenon Medical by 225.1% in the third quarter. Vanguard Group Inc. now owns 73,145 shares of the company’s stock worth $96,000 after acquiring an additional 50,646 shares in the last quarter. Hedge funds and other institutional investors own 22.74% of the company’s stock.

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 stabilizes and transfixes the SI joints.