Tenon Medical (NASDAQ:TNON) PT Lowered to $3.00

Tenon Medical (NASDAQ:TNON) had its price target trimmed by Benchmark from $5.00 to $3.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a speculative buy rating on the stock.

Tenon Medical Price Performance

Shares of TNON stock opened at $0.75 on Monday. The stock has a market cap of $2.80 million, a PE ratio of -0.08 and a beta of 2.24. The stock has a 50-day moving average of $1.06 and a 200-day moving average of $1.23. Tenon Medical has a one year low of $0.71 and a one year high of $23.00.

Tenon Medical (NASDAQ:TNON) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.68) EPS for the quarter. The company had revenue of $0.81 million during the quarter. Tenon Medical had a negative net margin of 532.14% and a negative return on equity of 934.11%.

Institutional Trading of Tenon Medical

Large investors have recently bought and sold shares of the business. Spectrum Asset Management Inc. NB CA increased its stake in Tenon Medical by 406.4% during the 3rd quarter. Spectrum Asset Management Inc. NB CA now owns 1,082,606 shares of the company’s stock worth $168,000 after purchasing an additional 868,820 shares in the last quarter. Vanguard Group Inc. bought a new stake in Tenon Medical during the 4th quarter worth approximately $38,000. Walleye Capital LLC bought a new stake in Tenon Medical during the 2nd quarter worth approximately $124,000. Y Intercept Hong Kong Ltd bought a new stake in Tenon Medical during the 2nd quarter worth approximately $61,000. Finally, Geode Capital Management LLC bought a new stake in Tenon Medical during the 1st quarter worth approximately $181,000. 22.74% of the stock is owned by institutional investors.

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.