Joint (NASDAQ:JYNT) Share Price Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• Joint’s shares fell below their 200-day moving average, trading at $8.24 versus the $8.72 average, with the stock down 1.4% and a market capitalization of approximately $116.5 million.
• Analyst sentiment has weakened: Weiss Ratings upgraded the stock only to “hold,” while Zacks Research downgraded it to “hold” and Wall Street Zen cut its rating to “buy.” The consensus rating from three analysts is “Hold.”
• Joint met quarterly EPS expectations at $0.05 and exceeded revenue estimates with $15.18 million, while institutional investors and hedge funds own a substantial 76.88% of the company.

The Joint Corp. (NASDAQ:JYNT - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.72 and traded as low as $8.24. Joint shares last traded at $8.24, with a volume of 100,625 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on JYNT shares. Weiss Ratings upgraded shares of Joint from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday. Zacks Research lowered Joint from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Finally, Wall Street Zen cut Joint from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 16th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold".

Joint Stock Down 1.4%

The firm has a market cap of $116.51 million, a P/E ratio of 30.52 and a beta of 1.05. The stock's 50-day moving average is $8.61 and its 200-day moving average is $8.72.

Joint (NASDAQ:JYNT - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.05 earnings per share for the quarter, meeting analysts' consensus estimates of $0.05. Joint had a net margin of 6.49% and a return on equity of 12.02%. The firm had revenue of $15.18 million during the quarter, compared to the consensus estimate of $14.57 million. As a group, analysts expect that The Joint Corp. will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Joint

A number of institutional investors have recently added to or reduced their stakes in JYNT. BNP Paribas Financial Markets increased its stake in Joint by 104.7% during the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the company's stock valued at $28,000 after acquiring an additional 1,501 shares during the period. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 1,810 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $95,000 after acquiring an additional 1,698 shares during the period. XTX Topco Ltd bought a new stake in shares of Joint in the 4th quarter worth approximately $124,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Joint by 78.0% during the 4th quarter. Wells Fargo & Company MN now owns 15,476 shares of the company's stock worth $135,000 after purchasing an additional 6,784 shares in the last quarter. 76.88% of the stock is owned by institutional investors and hedge funds.

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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