Short Interest in Joint Corp (NASDAQ:JYNT) Increases By 107.5%

Joint Corp (NASDAQ:JYNT) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 913,200 shares, an increase of 107.5% from the April 30th total of 440,100 shares. Approximately 7.0% of the shares of the company are short sold. Based on an average daily volume of 180,800 shares, the days-to-cover ratio is currently 5.1 days.

Several equities research analysts have commented on JYNT shares. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th. TheStreet raised Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Friday, April 26th. B. Riley set a $13.00 price target on Vista Outdoor and gave the stock a “buy” rating in a research note on Thursday, June 20th. Roth Capital cut Cypress Semiconductor from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $20.00 to $24.00 in a research note on Monday, June 3rd. Finally, DA Davidson cut Avon Products from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $4.75 to $3.60 in a research note on Thursday, May 23rd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $21.00.

NASDAQ:JYNT remained flat at $$18.95 on Wednesday. The company’s stock had a trading volume of 155,972 shares, compared to its average volume of 155,776. The company has a debt-to-equity ratio of 4.38, a current ratio of 1.00 and a quick ratio of 1.00. Joint has a 52 week low of $6.51 and a 52 week high of $19.81. The stock’s 50-day moving average price is $17.14. The stock has a market cap of $261.23 million, a price-to-earnings ratio of 473.75, a P/E/G ratio of 9.28 and a beta of 0.97.

Joint (NASDAQ:JYNT) last released its earnings results on Thursday, May 9th. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.06. The company had revenue of $10.68 million for the quarter, compared to analysts’ expectations of $8.90 million. Joint had a return on equity of 109.02% and a net margin of 4.50%. As a group, analysts predict that Joint will post 0.21 EPS for the current year.

In other Joint news, Director James H. Amos, Jr. purchased 4,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were purchased at an average cost of $16.08 per share, for a total transaction of $64,320.00. Following the completion of the transaction, the director now owns 80,497 shares in the company, valued at $1,294,391.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald V. Davella sold 10,190 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $16.46, for a total transaction of $167,727.40. Following the completion of the sale, the director now owns 15,457 shares in the company, valued at $254,422.22. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. bought a new stake in shares of Joint in the 1st quarter valued at approximately $47,000. Northern Trust Corp lifted its holdings in Joint by 16.1% in the 4th quarter. Northern Trust Corp now owns 16,614 shares of the company’s stock worth $138,000 after purchasing an additional 2,300 shares during the last quarter. Alambic Investment Management L.P. acquired a new stake in Joint in the 4th quarter worth approximately $152,000. Stonebridge Capital Advisors LLC acquired a new stake in Joint in the 1st quarter worth approximately $158,000. Finally, Globeflex Capital L P acquired a new stake in Joint in the 4th quarter worth approximately $210,000. 51.97% of the stock is owned by institutional investors and hedge funds.

About Joint

The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics. The company operates through two segments, Corporate Clinics and Franchise Operations. It operates through direct ownership, management arrangements, franchising, and the sale of regional developer rights. As of March 07, 2019, the company operated 450 clinics in the United States.

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