Joint (NASDAQ:JYNT) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

The Joint Corp. (NASDAQ:JYNT)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-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.

Analysts Set New Price Targets

Several brokerages have weighed in on JYNT. Wall Street Zen raised Joint from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Joint from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. Finally, Zacks Research upgraded Joint from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.00.

Joint Price Performance

The stock has a market capitalization of $127.58 million, a PE ratio of 38.91 and a beta of 1.11. The stock’s fifty day moving average is $8.68 and its 200-day moving average is $8.84.

Joint (NASDAQ:JYNT) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $14.50 million. On average, analysts forecast that The Joint Corp. will post 0.51 EPS for the current year.

Insiders Place Their Bets

In other Joint news, major shareholder Charles E. Jobson acquired 127,676 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $8.57 per share, with a total value of $1,094,183.32. Following the completion of the acquisition, the insider owned 1,773,479 shares in the company, valued at approximately $15,198,715.03. This trade represents a 7.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 30.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Joint by 17.6% in 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 last quarter. JPMorgan Chase & Co. boosted its position in Joint by 32.3% during 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 last quarter. Rhumbline Advisers grew its stake in Joint by 25.9% during the 2nd quarter. Rhumbline Advisers now owns 20,934 shares of the company’s stock valued at $242,000 after acquiring an additional 4,307 shares in the last quarter. American Century Companies Inc. grew its stake in Joint by 13.9% during the 2nd quarter. American Century Companies Inc. now owns 27,572 shares of the company’s stock valued at $318,000 after acquiring an additional 3,366 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 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 acquiring an additional 1,698 shares during the last quarter. 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.