The Joint Corp. (NASDAQ:JYNT) Short Interest Update

The Joint Corp. (NASDAQ:JYNT) saw 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 daily trading volume, of 64,200 shares, the days-to-cover ratio is currently 7.1 days.

Hedge Funds Weigh In On Joint

A number of hedge funds and other institutional investors have recently modified their holdings of JYNT. Skylands Capital LLC lifted its position in Joint by 20.3% during the fourth quarter. Skylands Capital LLC now owns 603,640 shares of the company’s stock valued at $5,801,000 after purchasing an additional 101,850 shares during the last quarter. First Foundation Advisors increased its stake in Joint by 18.8% in the 1st quarter. First Foundation Advisors now owns 209,301 shares of the company’s stock worth $2,733,000 after buying an additional 33,104 shares during the period. JCP Investment Management LLC increased its stake in Joint by 15.3% in the 1st quarter. JCP Investment Management LLC now owns 112,800 shares of the company’s stock worth $1,473,000 after buying an additional 15,000 shares during the period. Ancora Advisors LLC increased its stake 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 buying an additional 50,815 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Joint by 8.9% in the 1st quarter. Russell Investments Group Ltd. now owns 90,147 shares of the company’s stock worth $1,177,000 after buying an additional 7,375 shares during the period. Institutional investors own 76.88% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on JYNT shares. StockNews.com raised shares of Joint from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. B. Riley upped their target price on shares of Joint from $12.00 to $20.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $16.00 target price (up from $13.00) on shares of Joint in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Joint currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Joint Stock Performance

Shares of NASDAQ JYNT traded down $0.09 during midday trading on Wednesday, reaching $14.42. The stock had a trading volume of 42,100 shares, compared to its average volume of 77,888. The stock has a 50-day moving average of $14.36 and a 200-day moving average of $12.77. Joint has a 12-month low of $7.31 and a 12-month high of $17.82. The company has a market capitalization of $215.87 million, a price-to-earnings ratio of -19.36 and a beta of 1.60.

Joint (NASDAQ:JYNT) last issued its earnings results on Thursday, May 2nd. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.09. Joint had a negative net margin of 9.24% and a positive return on equity of 3.94%. The firm had revenue of $29.72 million during the quarter, compared to analyst estimates of $29.17 million. As a group, analysts forecast that Joint will post 0.2 EPS for the current fiscal year.

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.