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

The Joint Corp. (NASDAQ:JYNT) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-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 trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on JYNT. Wall Street Zen cut shares of Joint from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Weiss Ratings raised shares of Joint from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Finally, Zacks Research raised shares of Joint from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Joint Stock Down 3.8%

The stock has a market capitalization of $131.48 million, a PE ratio of 40.09 and a beta of 1.12. The business’s 50-day moving average is $8.78 and its two-hundred day moving average is $8.91.

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

Insider Activity at Joint

In other Joint news, major shareholder Charles E. Jobson bought 127,676 shares of Joint stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $15,198,715.03. This represents a 7.76% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 30.20% of the company’s stock.

Institutional Investors Weigh In On Joint

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Deutsche Bank AG raised its holdings in shares of Joint by 1.8% in the fourth quarter. Deutsche Bank AG now owns 84,745 shares of the company’s stock valued at $739,000 after buying an additional 1,462 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Joint by 104.7% in the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company’s stock valued at $28,000 after buying an additional 1,501 shares during the last quarter. Barclays PLC raised its holdings in shares of Joint by 5.3% in the fourth quarter. Barclays PLC now owns 32,235 shares of the company’s stock valued at $281,000 after buying an additional 1,623 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 valued at $95,000 after buying an additional 1,698 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Joint by 32.3% in the second quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company’s stock valued at $86,000 after buying an additional 1,810 shares during the last quarter. 76.88% of the stock is owned by hedge funds and other institutional investors.

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.