The Joint Corp. (NASDAQ:JYNT) Sees Large Decline in Short Interest

The Joint Corp. (NASDAQ:JYNT) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 487,300 shares, a drop of 7.7% from the October 15th total of 528,100 shares. Based on an average daily volume of 48,800 shares, the short-interest ratio is presently 10.0 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new position in Joint in the 2nd quarter valued at about $1,115,000. Clayton Partners LLC grew its position in Joint by 38.1% in the second quarter. Clayton Partners LLC now owns 186,500 shares of the company’s stock worth $2,622,000 after acquiring an additional 51,500 shares during the period. Ancora Advisors LLC increased its stake in Joint by 105.0% during the first quarter. Ancora Advisors LLC now owns 99,212 shares of the company’s stock worth $1,296,000 after acquiring an additional 50,815 shares during the last quarter. Renaissance Technologies LLC raised its position in Joint by 5.5% in the second quarter. Renaissance Technologies LLC now owns 394,478 shares of the company’s stock valued at $5,546,000 after purchasing an additional 20,400 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Joint by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 194,139 shares of the company’s stock valued at $2,730,000 after purchasing an additional 17,268 shares during the last quarter. Institutional investors and hedge funds own 76.88% of the company’s stock.

Joint Price Performance

JYNT stock opened at $11.06 on Monday. Joint has a 1 year low of $8.29 and a 1 year high of $17.82. The firm has a market capitalization of $165.72 million, a PE ratio of -9.70 and a beta of 1.57. The business has a 50 day simple moving average of $11.31 and a 200-day simple moving average of $12.95.

Wall Street Analyst Weigh In

A number of analysts have recently commented on JYNT shares. Roth Mkm cut their target price on shares of Joint from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. StockNews.com upgraded Joint from a “hold” rating to a “buy” rating in a research report on Friday.

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.