Joint (NASDAQ:JYNT) Stock Passes Above 50 Day Moving Average – What’s Next?

The Joint Corp. (NASDAQ:JYNT) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $8.72 and traded as high as $10.58. Joint shares last traded at $10.53, with a volume of 45,116 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on JYNT shares. B. Riley downgraded shares of Joint from a “buy” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Joint in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Joint Stock Down 5.7%

The company’s 50-day moving average is $8.77 and its two-hundred day moving average is $9.64. The company has a market cap of $147.62 million, a P/E ratio of -165.47 and a beta of 1.29.

Joint (NASDAQ:JYNT) last released its earnings results on Friday, November 7th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. Joint had a negative net margin of 1.78% and a negative return on equity of 0.98%. The firm had revenue of $13.38 million for the quarter, compared to analysts’ expectations of $13.36 million. On average, analysts anticipate that The Joint Corp. will post 0.11 EPS for the current fiscal year.

Insider Transactions at Joint

In other news, major shareholder Charles E. Jobson bought 5,240 shares of the stock in a transaction on Tuesday, January 6th. The shares were purchased at an average cost of $8.89 per share, for a total transaction of $46,583.60. Following the completion of the purchase, the insider directly owned 1,621,671 shares in the company, valued at $14,416,655.19. This represents a 0.32% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired 38,251 shares of company stock valued at $325,109 over the last three months. Company insiders own 27.90% of the company’s stock.

Institutional Investors Weigh In On Joint

Several institutional investors have recently made changes to their positions in the stock. JCP Investment Management LLC purchased a new position in shares of Joint in the second quarter valued at $5,526,000. First Foundation Advisors grew its holdings in Joint by 47.8% during the 3rd quarter. First Foundation Advisors now owns 273,759 shares of the company’s stock valued at $2,612,000 after buying an additional 88,486 shares in the last quarter. Topline Capital Management LLC grew its holdings in Joint by 18.7% during the 2nd quarter. Topline Capital Management LLC now owns 449,204 shares of the company’s stock valued at $5,184,000 after buying an additional 70,910 shares in the last quarter. Skylands Capital LLC increased its position in shares of Joint by 6.8% during the third quarter. Skylands Capital LLC now owns 832,278 shares of the company’s stock valued at $7,940,000 after buying an additional 52,983 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Joint by 17.6% during the second quarter. Geode Capital Management LLC now owns 345,330 shares of the company’s stock valued at $3,986,000 after buying an additional 51,704 shares during the period. Hedge funds and other institutional investors 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.