Joint (NASDAQ:JYNT) Stock Crosses Above 50 Day Moving Average – Here’s Why

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 $8.67 and traded as high as $8.97. Joint shares last traded at $8.82, with a volume of 111,640 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Zacks Research raised shares of Joint from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Wall Street Zen raised shares of Joint from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings lowered shares of Joint from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.00.

Joint Stock Up 0.8%

The business’s 50-day moving average is $8.67 and its two-hundred day moving average is $8.83. The company has a market capitalization of $125.77 million, a P/E ratio of 38.35 and a beta of 1.11.

Joint (NASDAQ:JYNT) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.08 earnings per share 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 company had revenue of $14.82 million for the quarter, compared to analyst estimates of $14.50 million. Analysts predict that The Joint Corp. will post 0.51 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Charles E. Jobson acquired 127,676 shares of the stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $8.57 per share, with a total value of $1,094,183.32. Following the completion of the transaction, the insider owned 1,773,479 shares in the company, valued at approximately $15,198,715.03. The trade was a 7.76% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 30.20% of the company’s stock.

Institutional Trading of Joint

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in Joint by 104.7% in the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company’s stock worth $28,000 after acquiring an additional 1,501 shares during the period. JPMorgan Chase & Co. raised its position in 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 acquiring an additional 1,810 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 acquiring an additional 1,698 shares during the period. Stoneridge Investment Partners LLC bought a new stake in Joint in the third quarter worth about $117,000. Finally, XTX Topco Ltd bought a new stake in Joint in the fourth quarter worth about $124,000. 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.