Short Interest in The Joint Corp. (NASDAQ:JYNT) Declines By 22.3%

The Joint Corp. (NASDAQ:JYNT) was the recipient of a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 622,700 shares, a decline of 22.3% from the April 30th total of 801,400 shares. Based on an average daily volume of 93,300 shares, the days-to-cover ratio is currently 6.7 days.

Joint Stock Performance

Shares of JYNT stock traded down $0.08 during midday trading on Friday, hitting $15.01. 45,540 shares of the company were exchanged, compared to its average volume of 88,913. Joint has a 52 week low of $7.31 and a 52 week high of $17.82. The firm has a market capitalization of $224.70 million, a P/E ratio of -20.01 and a beta of 1.58. The firm’s 50 day moving average price is $14.12 and its two-hundred day moving average price is $11.32.

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

Analysts Set New Price Targets

Several research firms have issued reports on JYNT. TheStreet lowered shares of Joint from a “c-” rating to a “d” rating in a research report on Thursday, March 7th. B. Riley raised their target price on shares of Joint from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, May 6th. StockNews.com upgraded Joint from a “hold” rating to a “buy” rating in a report on Monday, May 6th. Finally, Roth Mkm restated a “buy” rating and issued a $16.00 price objective (up previously from $13.00) on shares of Joint in a research note on Friday, May 3rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Foundation Advisors bought a new stake in shares of Joint in the third quarter valued at about $1,336,000. Skylands Capital LLC boosted its holdings in Joint by 20.3% in the 4th 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 period. Hudson Bay Capital Management LP acquired a new position in shares of Joint during the 3rd quarter worth approximately $867,000. Russell Investments Group Ltd. acquired a new position in shares of Joint during the 4th quarter worth approximately $795,000. Finally, Sierra Summit Advisors LLC bought a new position in shares of Joint during the fourth quarter worth approximately $652,000. 76.88% of the stock is owned by institutional investors and hedge funds.

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.