Maxim Group Cuts Tenon Medical (NASDAQ:TNON) Price Target to $8.00

Tenon Medical (NASDAQ:TNON) had its price target decreased by Maxim Group from $22.00 to $8.00 in a research note released on Friday,Benzinga reports. Maxim Group currently has a buy rating on the stock.

Separately, Benchmark reissued a “speculative buy” rating and issued a $3.00 target price on shares of Tenon Medical in a report on Wednesday, August 14th.

Tenon Medical Stock Performance

Shares of TNON stock traded down $0.10 on Friday, reaching $2.71. 145,150 shares of the company were exchanged, compared to its average volume of 752,918. The business has a 50-day moving average price of $4.05 and a 200 day moving average price of $1.86. Tenon Medical has a 1 year low of $2.61 and a 1 year high of $22.32. The company has a market cap of $1.38 million, a price-to-earnings ratio of -0.10 and a beta of 2.15.

Tenon Medical (NASDAQ:TNON) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($1.02) earnings per share for the quarter. The company had revenue of $0.90 million for the quarter. Tenon Medical had a negative net margin of 413.88% and a negative return on equity of 4,819.46%.

About Tenon Medical

Tenon Medical, Inc, a medical device company, engages in the development of surgical implant systems to treat severe lower back pain in the United States and Puerto Rico. The company offers CATAMARAN SI-Joint Fusion System to fuse sacroiliac joints (SI-Joints) to treat SI-Joint dysfunction that often causes severe lower back pain; and features fixation device that passes through the axial and sagittal planes of the ilium and sacrum, as well as transfixes the SI joints.