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

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

Wall Street Analysts Forecast Growth

JYNT has been the subject of a number of recent analyst reports. StockNews.com upgraded Joint from a “hold” rating to a “buy” rating in a report on Friday. Roth Mkm decreased their price objective on shares of Joint from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th.

Institutional Investors Weigh In On Joint

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new stake in shares of Joint during the 2nd quarter valued at $144,000. Sargent Investment Group LLC purchased a new position in Joint during the 2nd quarter valued at about $150,000. FMR LLC boosted its stake in Joint by 38.0% during the third quarter. FMR LLC now owns 10,787 shares of the company’s stock worth $123,000 after acquiring an additional 2,971 shares in the last quarter. XTX Topco Ltd purchased a new stake in Joint in the second quarter worth about $174,000. Finally, Price T Rowe Associates Inc. MD increased 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 valued at $229,000 after purchasing an additional 837 shares in the last quarter. 76.88% of the stock is owned by hedge funds and other institutional investors.

Joint Stock Performance

JYNT stock opened at $10.80 on Tuesday. The company has a market capitalization of $161.83 million, a price-to-earnings ratio of -9.70 and a beta of 1.57. The business’s 50 day moving average price is $11.31 and its two-hundred day moving average price is $12.95. Joint has a fifty-two week low of $8.38 and a fifty-two week high of $17.82.

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.