Joint (NASDAQ:JYNT) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

The Joint Corp. (NASDAQ:JYNT) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.18 and traded as low as $8.09. Joint shares last traded at $8.63, with a volume of 62,437 shares traded.

Analysts Set New Price Targets

JYNT has been the subject of several recent research reports. B. Riley Financial cut Joint from a “buy” rating to a “hold” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Joint in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.00.

Joint Price Performance

The stock has a market cap of $130.11 million, a price-to-earnings ratio of -145.81 and a beta of 1.33. The stock’s 50 day simple moving average is $9.30 and its two-hundred day simple moving average is $9.17.

Insider Transactions at Joint

In other news, major shareholder Charles E. Jobson acquired 16,753 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were purchased at an average cost of $10.00 per share, for a total transaction of $167,530.00. Following the transaction, the insider owned 1,638,424 shares of the company’s stock, valued at approximately $16,384,240. This represents a 1.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have bought 47,849 shares of company stock worth $433,081. 27.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its stake in shares of Joint by 1.8% during the 4th quarter. Deutsche Bank AG now owns 84,745 shares of the company’s stock worth $739,000 after acquiring an additional 1,462 shares in the last quarter. BNP Paribas Financial Markets grew its position in 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 in the last quarter. Barclays PLC grew its position in Joint by 5.3% in the fourth quarter. Barclays PLC now owns 32,235 shares of the company’s stock valued at $281,000 after purchasing an additional 1,623 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 buying an additional 1,698 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Joint by 32.3% during 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 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.