Short Interest in The Joint Corp. (NASDAQ:JYNT) Rises By 9.2%

The Joint Corp. (NASDAQ:JYNT) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 528,100 shares, an increase of 9.2% from the September 30th total of 483,800 shares. Based on an average trading volume of 49,100 shares, the days-to-cover ratio is currently 10.8 days.

Joint Stock Down 1.2 %

NASDAQ:JYNT traded down $0.14 on Wednesday, reaching $11.20. The stock had a trading volume of 17,759 shares, compared to its average volume of 68,873. The company has a market capitalization of $167.71 million, a P/E ratio of -15.12 and a beta of 1.57. Joint has a 1-year low of $7.31 and a 1-year high of $17.82. The stock has a fifty day moving average price of $11.24 and a 200-day moving average price of $13.01.

Joint (NASDAQ:JYNT) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Joint had a negative net margin of 12.00% and a positive return on equity of 2.17%. The firm had revenue of $30.26 million during the quarter, compared to analyst estimates of $29.65 million. Sell-side analysts predict that Joint will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Joint

A number of large investors have recently modified their holdings of JYNT. Squarepoint Ops LLC bought a new stake in shares of Joint during the second quarter worth approximately $144,000. Sargent Investment Group LLC bought a new stake in shares of Joint during the second quarter worth approximately $150,000. XTX Topco Ltd bought a new stake in shares of Joint during the second quarter worth approximately $174,000. Price T Rowe Associates Inc. MD raised its stake in shares of Joint by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,464 shares of the company’s stock worth $229,000 after buying an additional 837 shares during the last quarter. Finally, Avondale Wealth Management raised its stake in shares of Joint by 15.8% during the second quarter. Avondale Wealth Management now owns 22,000 shares of the company’s stock worth $309,000 after buying an additional 3,000 shares during the last quarter. 76.88% of the stock is currently 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.