Joint (NASDAQ:JYNT) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

The Joint Corp. (NASDAQ:JYNT)’s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $8.78 and traded as high as $9.69. Joint shares last traded at $9.22, with a volume of 48,386 shares traded.

Analyst Upgrades and Downgrades

JYNT has been the subject of several research reports. Wall Street Zen downgraded shares of Joint from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Zacks Research upgraded shares of Joint from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings upgraded shares of Joint from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Joint Price Performance

The business’s 50 day moving average is $8.78 and its 200 day moving average is $8.91. The stock has a market cap of $131.48 million, a price-to-earnings ratio of 40.09 and a beta of 1.12.

Joint (NASDAQ:JYNT) last issued its earnings results on Thursday, May 7th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The firm had revenue of $14.82 million during the quarter, compared to the consensus estimate of $14.50 million. Joint had a net margin of 5.72% and a return on equity of 7.00%. As a group, analysts forecast that The Joint Corp. will post 0.51 earnings per share for the current year.

Insider Activity at Joint

In other news, major shareholder Charles E. Jobson bought 127,676 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $8.57 per share, for a total transaction of $1,094,183.32. Following the completion of the purchase, the insider owned 1,773,479 shares in the company, valued at approximately $15,198,715.03. This trade represents a 7.76% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 30.20% of the company’s stock.

Hedge Funds Weigh In On Joint

A number of institutional investors and hedge funds have recently modified their holdings of JYNT. BNP Paribas Financial Markets grew its stake in shares of Joint by 104.7% during the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company’s stock worth $28,000 after purchasing an additional 1,501 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Joint by 32.3% during the second quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company’s stock worth $86,000 after purchasing an additional 1,810 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Joint by 25.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,244 shares of the company’s stock worth $95,000 after purchasing an additional 1,698 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Joint during the fourth quarter worth $124,000. Finally, Wells Fargo & Company MN grew its stake in shares of Joint by 78.0% during the fourth quarter. Wells Fargo & Company MN now owns 15,476 shares of the company’s stock worth $135,000 after purchasing an additional 6,784 shares in the last quarter. Institutional investors and hedge funds own 76.88% of the company’s stock.

Joint Company Profile

The Joint Chiropractic, Inc, doing business as Joint (NASDAQ: JYNT), is a franchisor and operator of outpatient chiropractic clinics in the United States. Under its flagship The Joint Chiropractic brand, the company offers membership-based, cash-focused spinal adjustment services designed to promote accessible, routine care for neck and back discomfort. By removing insurance requirements and offering walk-in visits, Joint aims to streamline the patient experience and reduce cost barriers to ongoing chiropractic treatment.

Joint’s growth strategy centers on partnering with franchisees to expand its network of clinics.