Tenon Medical (NASDAQ:TNON) Price Target Cut to $3.00 by Analysts at Benchmark

Tenon Medical (NASDAQ:TNON) had its price objective cut by Benchmark from $5.00 to $3.00 in a research report report published on Monday morning, Benzinga reports. They currently have a speculative buy rating on the stock.

Tenon Medical Trading Down 2.4 %

Tenon Medical stock opened at $0.77 on Monday. The business’s fifty day simple moving average is $1.07 and its two-hundred day simple moving average is $1.23. Tenon Medical has a 12 month low of $0.71 and a 12 month high of $23.00. The company has a market capitalization of $2.87 million, a price-to-earnings ratio of -0.08 and a beta of 2.24.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Spectrum Asset Management Inc. NB CA lifted its holdings 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 purchasing an additional 868,820 shares in the last quarter. Vanguard Group Inc. bought a new position in shares of Tenon Medical during the fourth quarter valued at $38,000. Walleye Capital LLC bought a new position in shares of Tenon Medical during the second quarter valued at $124,000. Y Intercept Hong Kong Ltd bought a new position in shares of Tenon Medical during the second quarter valued at $61,000. Finally, Geode Capital Management LLC bought a new position in shares of Tenon Medical during the first quarter valued at $181,000. 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.