Tenon Medical (NASDAQ:TNON) Stock Bumped Down to Sell by Wall Street Zen

Wall Street Zen cut shares of Tenon Medical (NASDAQ:TNON) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tenon Medical in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Tenon Medical Stock Down 10.5%

Shares of TNON stock opened at $2.05 on Friday. The stock has a 50-day simple moving average of $3.67 and a 200 day simple moving average of $17.16. Tenon Medical has a fifty-two week low of $2.05 and a fifty-two week high of $45.50. The stock has a market capitalization of $5.51 million, a P/E ratio of -0.05 and a beta of 1.35.

Tenon Medical (NASDAQ:TNON) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($12.35) EPS for the quarter, missing the consensus estimate of ($8.40) by ($3.95). Tenon Medical had a negative return on equity of 907.60% and a negative net margin of 257.85%. The business had revenue of $1.28 million during the quarter, compared to the consensus estimate of $1.54 million.

Insider Buying and Selling at Tenon Medical

In other Tenon Medical news, major shareholder Financial Lp Hrt bought 67,925 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were bought at an average price of $3.63 per share, for a total transaction of $246,567.75. Following the acquisition, the insider directly owned 15,839 shares of the company’s stock, valued at approximately $57,495.57. This trade represents a -130.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders bought 129,945 shares of company stock valued at $500,468 and sold 136,599 shares valued at $605,467. 17.71% of the stock is owned by corporate insiders.

About Tenon Medical

Tenon Medical, Inc (NASDAQ:TNON) is a medical device company focused on developing and commercializing technologies for the treatment of sacroiliac (SI) joint dysfunction. The SI joint connects the lower spine to the pelvis and can be a source of chronic lower-back and pelvic pain.

The company’s primary product is the Catamaran SIJ Fusion System, a minimally invasive surgical system designed to stabilize and fuse the SI joint through a transfixation approach. The system uses a specialized implant and delivery instruments intended to support placement across the SI joint while addressing the underlying source of instability.

Tenon Medical was founded in 2014 and is based in Los Gatos, California.