Joint (NASDAQ:JYNT) Shares Pass Above Fifty Day Moving Average – Here’s Why

The Joint Corp. (NASDAQ:JYNT)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.85 and traded as high as $9.52. Joint shares last traded at $9.21, with a volume of 227,241 shares trading hands.

Analyst Upgrades and Downgrades

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

Joint Stock Performance

The company has a market capitalization of $131.33 million, a price-to-earnings ratio of 40.04 and a beta of 1.12. The stock’s fifty day simple moving average is $8.85 and its two-hundred day simple moving average is $8.96.

Joint (NASDAQ:JYNT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.05. The company had revenue of $14.82 million during the quarter, compared to analyst estimates of $14.50 million. Joint had a net margin of 5.72% and a return on equity of 7.00%. On average, equities analysts anticipate that The Joint Corp. will post 0.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Joint news, major shareholder Charles E. Jobson bought 127,676 shares of Joint stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $8.57 per share, for a total transaction 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 30.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Deutsche Bank AG lifted its position in shares of Joint by 1.8% during the 4th quarter. Deutsche Bank AG now owns 84,745 shares of the company’s stock valued at $739,000 after acquiring an additional 1,462 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Joint by 104.7% in the 3rd 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 last quarter. Barclays PLC lifted its holdings in shares of Joint by 5.3% during the fourth quarter. Barclays PLC now owns 32,235 shares of the company’s stock valued at $281,000 after purchasing an additional 1,623 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Joint by 25.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,244 shares of the company’s stock valued at $95,000 after purchasing an additional 1,698 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Joint by 32.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company’s stock valued at $86,000 after purchasing an additional 1,810 shares during the period. Institutional investors own 76.88% of the company’s stock.

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.