Joint (NASDAQ:JYNT) Shares Cross Below 200-Day Moving Average - Here's What Happened

Key Points

• Joint Corp. shares fell below their 200-day moving average, trading as low as $8.67 versus the $8.81 level, while the stock was down about 1.5% on the session.
• Recent analyst sentiment has softened, with Weiss Ratings and Zacks both downgrading the stock; overall Wall Street now shows a consensus Hold rating and a $17.00 price target.
• The company posted a better-than-expected quarterly report, earning $0.08 per share versus the $0.03 estimate and generating $14.82 million in revenue, slightly above forecasts.

The Joint Corp. (NASDAQ:JYNT - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.81 and traded as low as $8.67. Joint shares last traded at $8.67, with a volume of 34,249 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings cut shares of Joint from a "sell (d+)" rating to a "sell (d)" rating in a research note on Wednesday. Zacks Research cut Joint from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Joint presently has an average rating of "Hold" and a consensus price target of $17.00.

Joint Trading Down 1.5%

The firm has a fifty day simple moving average of $8.71 and a 200 day simple moving average of $8.81. The stock has a market cap of $124.18 million, a price-to-earnings ratio of 45.63 and a beta of 1.11.

Joint (NASDAQ:JYNT - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.05. Joint had a negative return on equity of 1.28% and a net margin of 4.99%.The company had revenue of $14.82 million during the quarter, compared to the consensus estimate of $14.50 million. On average, equities analysts expect that The Joint Corp. will post 0.31 earnings per share for the current year.

Insider Activity at Joint

In other news, major shareholder Charles E. Jobson acquired 15,397 shares of Joint stock in a transaction on Thursday, February 12th. The stock was bought at an average price of $8.50 per share, for a total transaction of $130,874.50. Following the transaction, the insider owned 1,645,294 shares of the company's stock, valued at $13,984,999. The trade was a 0.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 16,354 shares of company stock valued at $139,139. 30.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Joint

Hedge funds have recently made changes to their positions in the business. JCP Investment Management LLC raised its stake in shares of Joint by 24.0% in the 3rd quarter. JCP Investment Management LLC now owns 593,906 shares of the company's stock valued at $5,666,000 after buying an additional 115,062 shares in the last quarter. Skylands Capital LLC lifted its position in shares of Joint by 6.9% during the 4th quarter. Skylands Capital LLC now owns 890,045 shares of the company's stock worth $7,761,000 after buying an additional 57,767 shares during the period. Verus Capital Partners LLC lifted its position in shares of Joint by 1.7% during the 3rd quarter. Verus Capital Partners LLC now owns 113,426 shares of the company's stock worth $1,082,000 after buying an additional 1,947 shares during the period. Stoneridge Investment Partners LLC bought a new position in shares of Joint during the 3rd quarter worth approximately $117,000. Finally, XTX Topco Ltd bought a new position in shares of Joint during the 4th quarter worth approximately $124,000. Institutional investors and hedge funds 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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