Tenon Medical Inc (NASDAQ:TNON) shares, rose in value on Friday, November 01, with the stock price down by -4.58% to the previous day’s close as strong demand from buyers drove the stock to $3.75.
Actively observing the price movement in the last trading, the stock closed the session at $3.93, falling within a range of $3.635 and $3.9201. The value of beta (5-year monthly) was 2.194. Referring to stock’s 52-week performance, its high was $37.60, and the low was $2.80. On the whole, TNON has fluctuated by -8.76% over the past month.
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With the market capitalization of Tenon Medical Inc currently standing at about $1.92 million, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Nov-13.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 4.34M, with a low estimate of 1.12M and a high estimate of 1.26M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.19M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that TNON’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of TNON currently trading nearly 1.58% and -11.07% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 47.77, while the 7-day volatility ratio is showing 8.20% which for the 30-day chart, stands at 8.95%. Furthermore, Tenon Medical Inc (TNON)’s beta value is 2.16, and its average true range (ATR) is 0.54.
A comparison of Tenon Medical Inc (TNON) with its peers suggests the former has fared considerably weaker in the market. TNON showed an intraday change of -4.58% in last session, and over the past year, it shrunk by -44.92%%.
Data on historical trading for Tenon Medical Inc (NASDAQ:TNON) indicates that the trading volumes over the past 10 days have averaged 3.5 and over the past 3 months, they’ve averaged 2.48 million. According to company’s latest data on outstanding shares, there are 0.57 million shares outstanding.
Nearly 0.00% of Tenon Medical Inc’s shares belong to company insiders and institutional investors own 12.60% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 39769.0 shares as on 2024-10-15, resulting in a short ratio of 0.01. According to the data, the short interest in Tenon Medical Inc (TNON) stood at 798.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 0.82 million. The stock has fallen by -70.33% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the TNON stock heading into the next quarter.
