Joint (NASDAQ:JYNT) Stock Passes Below 200 Day Moving Average – Here’s Why

Shares of The Joint Corp. (NASDAQ:JYNT) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.72 and traded as low as $8.24. Joint shares last traded at $8.24, with a volume of 100,625 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have commented on JYNT. Weiss Ratings upgraded shares of Joint from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Wall Street Zen downgraded shares of Joint from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Finally, Zacks Research downgraded shares of Joint from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Joint Stock Performance

The firm has a 50 day moving average of $8.59 and a 200-day moving average of $8.71. The stock has a market capitalization of $118.15 million, a PE ratio of 30.96 and a beta of 1.05.

Joint (NASDAQ:JYNT) last released its earnings results on Thursday, August 6th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $15.18 million for the quarter, compared to analysts’ expectations of $14.57 million. Joint had a return on equity of 12.02% and a net margin of 6.49%. On average, sell-side analysts predict that The Joint Corp. will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP lifted its position in Joint by 161.3% in the 2nd quarter. Susquehanna International Group LLP now owns 43,138 shares of the company’s stock worth $379,000 after buying an additional 26,626 shares in the last quarter. Grandeur Peak Global Advisors LLC acquired a new position in shares of Joint in the second quarter worth $19,059,000. BlackRock Inc. acquired a new stake in Joint during the second quarter valued at $2,534,000. Verus Capital Partners LLC grew its stake in Joint by 23.6% in the first quarter. Verus Capital Partners LLC now owns 130,705 shares of the company’s stock valued at $1,157,000 after purchasing an additional 24,929 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Joint by 37.4% in the first quarter. Dimensional Fund Advisors LP now owns 153,754 shares of the company’s stock valued at $1,361,000 after purchasing an additional 41,842 shares in the last quarter. 76.88% of the stock is owned by hedge funds and other institutional investors.

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.