Tenon Medical Inc (NASDAQ:TNON) price closed higher on current market day and jumping 20.70% above its previous close.
A look at the daily price movement shows that the last close reads $3.43, with intraday deals fluctuated between $3.71 and $4.57. The company’s 5Y monthly beta was ticking 2.194. Taking into account the 52-week price action we note that the stock hit a 52-week high of $37.60 and 52-week low of $2.80. The stock subtracted -17.69% on its value in the past month.
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Tenon Medical Inc, which has a market valuation of $2.36 million, is expected to release its quarterly earnings report on 2024-Nov-12.
On average, analysts have forecast the company’s revenue for the quarter will hit 1.19M, with the likely lows of 1.12M and highs of 1.26M. The average estimate suggests sales growth for the quarter will likely rise by 26.10% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of 4.34M for the company’s annual revenue in current year. Per this projection, the revenue is forecast to grow 48.20% above that which the company brought in the current year earning report.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give TNON a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.
The overview shows that TNON’s price is at present 1.98% off the SMA20 and -3.25% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 50.46, with weekly volatility standing at 9.80%. The indicator jumps to 12.97% when calculated based on the past 30 days. Tenon Medical Inc (NASDAQ:TNON)’s beta value is holding at 2.19, while the average true range (ATR) indicator is currently reading 0.77.
An analysis of the Tenon Medical Inc (NASDAQ:TNON) stock in terms of its daily trading volume indicates that the 3-month average is 1.94 million. However, this figure increases on the past 10-day timeline to an average of 1.57 million.
Current records show that the company has 2.60M in outstanding shares. The insiders’ percentage holdings are 0.00% of outstanding shares while the percentage share held by institutions stands at 12.60%. The stats also highlight that short interest as of 2024-09-30, stood at 56211.0 shares, which puts the short ratio at the time at 0.01. From this we can glean that short interest is 1128.00 of company’s current outstanding shares. Notably, we see that shares short in September rose slightly given the previous month’s figure stood at 6142.0. But the -67.25% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
