In last trading session, Tenon Medical Inc (NASDAQ:TNON) saw 0.52 million shares changing hands with its beta currently measuring 2.82. Company’s recent per share price level of $1.99 trading at -$0.47 or -19.11% at ring of the bell on the day assigns it a market valuation of $4.30M. That closing price of TNON’s stock is at a discount of -1462.81% from its 52-week high price of $31.10 and is indicating a premium of 61.31% from its 52-week low price of $0.77. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 12.77 million shares which gives us an average trading volume of 2.11 million if we extend that period to 3-months.
For Tenon Medical Inc (TNON), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.00. Splitting up the data highlights that, out of 2 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 2 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$1.38 in the current quarter.
Tenon Medical Inc (NASDAQ:TNON) trade information
Upright in the red during last session for losing -19.11%, in the last five days TNON remained trading in the red while hitting it’s week-highest on Tuesday, 11/14/23 when the stock touched $1.99 price level, adding 43.14% to its value on the day. Tenon Medical Inc’s shares saw a change of -87.41% in year-to-date performance and have moved -17.43% in past 5-day. Tenon Medical Inc (NASDAQ:TNON) showed a performance of 33.11% in past 30-days. Number of shares sold short was 34570.0 shares which calculate 1.06 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $6.00 to the stock, which implies a rise of 66.83% to its current value. Analysts have been projecting $6.00 as a low price target for the stock while placing it at a high target of $6.00. It follows that stock’s current price would drop -201.51% in reaching the projected high whereas dropping to the targeted low would mean a loss of -201.51% for stock’s current value.
Tenon Medical Inc (TNON) estimates and forecasts
The company is estimating its revenue growth to increase by 80.30% in the current quarter and calculating 66.70% increase in the next quarter. This year revenue growth is estimated to rise 358.80% from the last financial year’s standing.
2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.06 million for the same. And 2 analysts are in estimates of company making revenue of $950k in the next quarter that will end on Mar 2024. Company posted $277k and $433k of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 282.70% while estimating it to be 119.40% for the next quarter.
Tenon Medical Inc is more likely to be releasing its next quarterly report in December and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Tenon Medical Inc (NASDAQ:TNON)’s Major holders
TMD Wealth Management, LLC is the top institutional holder at TNON for having 0.36 million shares of worth $0.71 million. And as of Sep 29, 2023, it was holding 14.49% of the company’s outstanding shares.
The second largest institutional holder is Spectrum Asset Management, Inc. (NB/CA), which was holding about 0.11 million shares on Sep 29, 2023. The number of shares represents firm’s hold over 4.38% of outstanding shares, having a total worth of $0.22 million.
On the other hand, Fidelity Extended Market Index Fund and Vanguard Extended Market Index Fund are the top two Mutual Funds which own company’s shares. As of Aug 30, 2023, the former fund manager was holding 2962.0 shares of worth $5894.0 or 0.12% of the total outstanding shares. The later fund manager was in possession of 353.0 shares on Jun 29, 2023, making its stake of worth around $702.0 in the company or a holder of 0.01% of company’s stock.