Tenon Medical Inc (NASDAQ:TNON) traded at $5.15 at last check on current trade day and made an upward move of 28.23% on its previous day’s price.
Looking at the stock we see that its previous close was $4.02 and the beta (5Y monthly) reads 2.172 with the day’s price range being $4.56 – $5.95. In terms of its 52-week price range, TNON has a high of $37.60 and a low of $2.80. The company’s stock has gained about 23.92% over that past 30 days.
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Tenon Medical Inc has a market cap of $2.94 million and is expected to release its quarterly earnings report on 2024-Nov-12. Estimates by analysts give the company expected earnings per share (EPS) of -4.23, with the EPS growth for the year raised at -19.34 for current year and -19.34 for next year.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at 1.19M, with a low of 1.12M and a high of 1.26M. The median projection represents growth squeezing down to 26.10% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for current year is expected to hit 4.34M, or 48.20% up from figures reported last year.
On the other hand, looking at the outlook for the TNON stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Sell.
Looking further, we note the current price level is 11.52% off its SMA20 and 12.39% from its 50-day simple moving average. The RSI (14) is pointing at 52.27 while the volatility over the past week is 24.50% and jumps to 32.38% over the past one month. The beta value is 2.18, while the average true range (ATR) is currently pointing at 1.68.
Coming back to Tenon Medical Inc (NASDAQ:TNON), we note that the average 3-month trading volume was 1.44 million, while that of the preceding 10-day period stands at 9.07 million. Current shares outstanding are 2.60 million.
The insiders hold 10.71% of the company’s shares while institutions hold 3.17%. The data shows that short shares as of 2024-08-30, stood at 6142.0 at a short ratio of 1.16. This represents a 144.00 short interest in shares outstanding on 2024-08-30. Shares short rose in August from the previous month at 4242.0. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -59.22% down in year-to-date price movement.
