Joint (NASDAQ:JYNT) Cut to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Joint from “strong buy” to “buy,” while other analysts also became more cautious. MarketBeat data shows a consensus “reduce” rating, including two “hold” ratings and one “sell” rating.
• Joint’s shares opened at $8.45, with a market capitalization of about $119.5 million and a 52-week range of $7.50 to $11.14.
• The company reported quarterly earnings of $0.05 per share, matching estimates, while revenue of $15.18 million exceeded the $14.57 million consensus forecast. Institutional investors own approximately 76.9% of the stock.

Joint (NASDAQ:JYNT - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Sunday.

Several other equities analysts have also weighed in on JYNT. Weiss Ratings lowered Joint from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday. Zacks Research lowered Joint from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Joint has a consensus rating of "Reduce".

Joint Stock Performance

JYNT opened at $8.45 on Friday. The firm has a market cap of $119.48 million, a P/E ratio of 31.30 and a beta of 1.10. Joint has a 52-week low of $7.50 and a 52-week high of $11.14. The business's fifty day moving average is $8.78 and its 200-day moving average is $8.83.

Joint (NASDAQ:JYNT - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.05 earnings per share for the quarter, meeting analysts' consensus estimates of $0.05. The firm had revenue of $15.18 million during the quarter, compared to the consensus estimate of $14.57 million. Joint had a net margin of 6.49% and a return on equity of 12.02%. On average, research analysts predict that Joint will post 0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Joint

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its position in shares of Joint by 104.7% in the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company's stock valued at $28,000 after purchasing an additional 1,501 shares during the period. JPMorgan Chase & Co. boosted its holdings in Joint by 32.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,412 shares of the company's stock worth $86,000 after buying an additional 1,810 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 worth $95,000 after buying an additional 1,698 shares during the period. XTX Topco Ltd purchased a new position in Joint in the 4th quarter valued at approximately $124,000. Finally, Wells Fargo & Company MN grew its stake in Joint by 78.0% in the 4th quarter. Wells Fargo & Company MN now owns 15,476 shares of the company's stock valued at $135,000 after buying an additional 6,784 shares in the last quarter. 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.

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