Tenon Medical Inc. (NASDAQ:TNON) saw an upside of 5.79% to $0.26 after adding $0.01 on Tuesday. The 5-day average trading volume is 360,439 shares of the company’s common stock. It has gained $0.2679 in the past week and touched a new high 5 times within the past 5 days. An average of 449,600 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 919,928.
TNON’s 1-month performance is -9.00% or -$0.0507 on its low of $0.2012 reached on 08/15/23. The company’s shares have touched a 52-week low of $0.20 and high of $3.11, with the stock’s rally to the 52-week high happening on 02/22/23. YTD, TNON has lost -83.23% or -$1.3200 and has reached a new high 9 times. However, the current price is down -91.48% from the 52-week high price.
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Insider Transactions
TNON stock investors last saw insider trading activity on Jun 14.GINN RICHARD (Chief Technology Officer) most recently sold 64,990 shares at $1.26 per share on May 23. This transaction cost the insider $81,887. CEO and President, FOSTER STEVEN M, sold 27,791 shares at a price of $1.26 on May 23.
Valuation Metrics
TNON stock has a beta of 1.73. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.02 while the price-to-book (PB) in the most recent quarter is 3.78.
Tenon Medical Inc.’s quick ratio for the recent period was 1.10, with the current ratio over the same period at 1.20. In terms of profitability, the gross margin trailing 12 months is -46.00%. The trailing 12-month EBITDA margin is -2668.02%. The firm’s gross profit as reported stood at -$0.64 million against revenue of $0.69 million.
Earnings Surprise
Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -27.97% to -$4.29 million, while revenue of -$4.83 million was -12.59% off the previous quarter. EBITDA for the quarter stood at more than -$4.23 million. TNON stock balance sheet for the recent quarter shows that total liabilities totaled 8.95 million, with total debt at $0.8 million. Shareholders hold equity totaling $22.61 million.
Let’s look briefly at Tenon Medical Inc. (TNON) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 21 August was 51.05% to suggest the stock is trending Neutral, with historical volatility in this time period at 110.49%.
The stock’s 5-day moving average is $0.2345, reflecting a +23.81% or $0.0500 change from its current price. TNON is currently trading -9.72% above its 20-day SMA, -86.02% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -67.50% and SMA200 by-86.73%.
Stochastic %K and %D was 44.29% and 30.92% and the average true range (ATR) pointed at 0.0268. The RSI (14) points at 42.22%, while the 14-day stochastic is at 54.09% with the period’s ATR at 0.0303. The stock’s 9-day MACD Oscillator is pointing at 0.0157 and -0.0019 on the 14-day charts.
Analyst Ratings
Analysts offering their rating for TNON stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate TNON as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.
What is TNON’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $3.00 and a high of $3.00, with their median price target at $3.00. Looking at these predictions, the average price target given by analysts is for Tenon Medical Inc. (TNON) stock is $3.00.
