The Joint Corp. (NASDAQ:JYNT) Sees Significant Decrease in Short Interest

The Joint Corp. (NASDAQ:JYNT) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 454,700 shares, a decline of 14.8% from the June 30th total of 533,600 shares. Based on an average trading volume of 64,200 shares, the days-to-cover ratio is currently 7.1 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on JYNT shares. B. Riley increased their price objective on shares of Joint from $12.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Roth Mkm reaffirmed a “buy” rating and issued a $16.00 price objective (up previously from $13.00) on shares of Joint in a report on Friday, May 3rd. Finally, StockNews.com raised Joint from a “hold” rating to a “buy” rating in a report on Monday, May 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Joint has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Joint Stock Performance

Shares of Joint stock traded down $0.05 on Monday, hitting $14.25. 19,631 shares of the company’s stock were exchanged, compared to its average volume of 78,411. Joint has a 1 year low of $7.31 and a 1 year high of $17.82. The company has a 50-day simple moving average of $14.40 and a 200-day simple moving average of $12.73. The stock has a market capitalization of $213.32 million, a PE ratio of -19.00 and a beta of 1.60.

Joint (NASDAQ:JYNT) last released its earnings results on Thursday, May 2nd. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.09. Joint had a positive return on equity of 3.94% and a negative net margin of 9.24%. The company had revenue of $29.72 million for the quarter, compared to the consensus estimate of $29.17 million. On average, analysts expect that Joint will post 0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Joint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JYNT. Avondale Wealth Management increased its stake in Joint by 15.8% in the 2nd quarter. Avondale Wealth Management now owns 22,000 shares of the company’s stock worth $309,000 after buying an additional 3,000 shares in the last quarter. Ancora Advisors LLC lifted its holdings in Joint by 105.0% in the 1st quarter. Ancora Advisors LLC now owns 99,212 shares of the company’s stock worth $1,296,000 after purchasing an additional 50,815 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Joint by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,464 shares of the company’s stock worth $229,000 after purchasing an additional 837 shares during the period. First Foundation Advisors grew its holdings in Joint by 18.8% during the 1st quarter. First Foundation Advisors now owns 209,301 shares of the company’s stock valued at $2,733,000 after buying an additional 33,104 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Joint by 8.9% during the first quarter. Russell Investments Group Ltd. now owns 90,147 shares of the company’s stock valued at $1,177,000 after buying an additional 7,375 shares during the last quarter. 76.88% of the stock is owned by hedge funds and other institutional investors.

About Joint

The Joint Corp. operates and franchises chiropractic clinics in the United States. The company operates in two segments, Corporate Clinics and Franchise Operations. The Joint Corp. was incorporated in 2010 and is headquartered in Scottsdale, Arizona.