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

Shares of The Joint Corp. (NASDAQ:JYNT) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $9.16 and traded as high as $10.20. Joint shares last traded at $10.03, with a volume of 73,399 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Joint in a research report on Thursday, January 22nd. B. Riley downgraded shares of Joint from a “buy” rating to a “hold” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.00.

Joint Stock Performance

The firm has a market cap of $149.15 million, a price-to-earnings ratio of -167.14 and a beta of 1.35. The firm has a 50-day moving average price of $9.16 and a two-hundred day moving average price of $9.48.

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

Insider Transactions at Joint

In other news, major shareholder Charles E. Jobson acquired 16,753 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were bought at an average price of $10.00 per share, with a total value of $167,530.00. Following the completion of the acquisition, the insider owned 1,638,424 shares in the company, valued at $16,384,240. This trade represents a 1.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 55,004 shares of company stock valued at $492,639 in the last three months. Corporate insiders own 27.90% of the company’s stock.

Institutional Trading of Joint

Large investors have recently made changes to their positions in the company. JCP Investment Management LLC purchased a new position in Joint during the 2nd quarter worth approximately $5,526,000. First Foundation Advisors boosted its holdings in shares of Joint by 47.8% in the third quarter. First Foundation Advisors now owns 273,759 shares of the company’s stock valued at $2,612,000 after acquiring an additional 88,486 shares during the period. Topline Capital Management LLC grew its position in shares of Joint by 18.7% during the second quarter. Topline Capital Management LLC now owns 449,204 shares of the company’s stock worth $5,184,000 after acquiring an additional 70,910 shares during the last quarter. Skylands Capital LLC grew its position in shares of Joint by 6.9% during the fourth quarter. Skylands Capital LLC now owns 890,045 shares of the company’s stock worth $7,761,000 after acquiring an additional 57,767 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Joint by 17.6% in the 2nd quarter. Geode Capital Management LLC now owns 345,330 shares of the company’s stock valued at $3,986,000 after acquiring an additional 51,704 shares during the period. 76.88% of the stock is 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.