Joint (NASDAQ:JYNT) Shares Pass Above Fifty Day Moving Average – Here’s Why

Shares of The Joint Corp. (NASDAQ:JYNT) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $8.85 and traded as high as $9.52. Joint shares last traded at $9.21, with a volume of 227,241 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have commented on JYNT. Wall Street Zen downgraded shares of Joint from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Weiss Ratings raised shares of Joint from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 12th. Finally, Zacks Research upgraded shares of Joint from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Joint Price Performance

The company has a market capitalization of $131.33 million, a P/E ratio of 40.04 and a beta of 1.12. The company has a fifty day moving average price of $8.85 and a 200 day moving average price of $8.96.

Joint (NASDAQ:JYNT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.05. Joint had a return on equity of 7.00% and a net margin of 5.72%.The business had revenue of $14.82 million for the quarter, compared to the consensus estimate of $14.50 million. On average, equities research analysts predict that The Joint Corp. will post 0.51 earnings per share for the current fiscal year.

Insider Activity at Joint

In other Joint news, major shareholder Charles E. Jobson purchased 127,676 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were bought at an average price of $8.57 per share, with a total value of $1,094,183.32. Following the completion of the acquisition, the insider owned 1,773,479 shares in the company, valued at approximately $15,198,715.03. This represents a 7.76% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 30.20% of the company’s stock.

Institutional Trading of Joint

Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in Joint by 104.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company’s stock valued at $28,000 after acquiring an additional 1,501 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Joint by 32.3% in 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% in 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 valued at $124,000. Finally, Wells Fargo & Company MN increased its holdings 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 valued at $135,000 after purchasing an additional 6,784 shares during the period. 76.88% of the stock is currently owned by institutional investors and hedge funds.

About Joint

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.