Joint (NASDAQ:JYNT) Stock Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• The Joint Corp. shares fell below their 200-day moving average of $11.11, trading as low as $10.70 during Thursday's session.
• Lake Street Capital has reduced their price target for Joint shares from $20.00 to $16.00 but maintains a "buy" rating.
• The company reported a quarterly EPS of ($0.03), missing analyst expectations, despite generating a revenue of $13.08 million.

The Joint Corp. (NASDAQ:JYNT - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.11 and traded as low as $10.70. Joint shares last traded at $10.70, with a volume of 52,365 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on JYNT. B. Riley decreased their price target on Joint from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Friday. Lake Street Capital decreased their price target on Joint from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, May 9th.

Joint Stock Performance

The stock has a 50 day moving average price of $11.48 and a two-hundred day moving average price of $11.10. The company has a market capitalization of $169.52 million, a PE ratio of -33.62 and a beta of 1.53.

Joint (NASDAQ:JYNT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. Joint had a positive return on equity of 0.67% and a negative net margin of 7.02%. The company had revenue of $13.27 million during the quarter, compared to the consensus estimate of $13.32 million. Sell-side analysts predict that The Joint Corp. will post 0.11 earnings per share for the current year.

Joint declared that its Board of Directors has approved a share buyback plan on Thursday, June 5th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. First Foundation Advisors grew its holdings in Joint by 21.0% in the 1st quarter. First Foundation Advisors now owns 157,904 shares of the company's stock valued at $1,972,000 after buying an additional 27,444 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Joint by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 216,254 shares of the company's stock valued at $2,299,000 after buying an additional 10,074 shares during the last quarter. Northern Trust Corp grew its holdings in Joint by 4.1% in the 4th quarter. Northern Trust Corp now owns 131,313 shares of the company's stock valued at $1,396,000 after buying an additional 5,220 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Joint by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 5,088 shares of the company's stock worth $54,000 after purchasing an additional 1,735 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Joint by 6.8% during the 4th quarter. BNP Paribas Financial Markets now owns 24,031 shares of the company's stock worth $255,000 after purchasing an additional 1,521 shares in the last quarter. Institutional investors and hedge funds own 76.88% of the company's stock.

About Joint

The Joint Corp. operates and franchises chiropractic clinics in the United States. The company operates in two segments, Corporate Clinics and Franchise Operations. The Joint Corp. was incorporated in 2010 and is headquartered in Scottsdale, Arizona.