Joint (NASDAQ:JYNT) Stock Passes Above Fifty Day Moving Average of $11.48

Shares of The Joint Corp. (NASDAQ:JYNT) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.48 and traded as high as $12.26. Joint shares last traded at $12.02, with a volume of 51,983 shares.

Wall Street Analysts Forecast Growth

Separately, TheStreet lowered shares of Joint from a “c-” rating to a “d” rating in a research report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.50.

Joint Trading Up 2.2 %

The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $11.52 and a 200-day moving average price of $9.81. The company has a market capitalization of $180.02 million, a price-to-earnings ratio of -18.35 and a beta of 1.59.

Joint (NASDAQ:JYNT) last released its earnings results on Thursday, March 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. Joint had a positive return on equity of 7.80% and a negative net margin of 8.19%. The firm had revenue of $30.61 million for the quarter, compared to analyst estimates of $29.63 million. As a group, sell-side analysts predict that The Joint Corp. will post 0.13 EPS for the current year.

Institutional Trading of Joint

Several large investors have recently added to or reduced their stakes in JYNT. UBS Asset Management Americas Inc. lifted its stake in shares of Joint by 6.0% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 10,467 shares of the company’s stock valued at $160,000 after purchasing an additional 597 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Joint by 5.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 14,984 shares of the company’s stock valued at $235,000 after acquiring an additional 776 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Joint by 0.7% during the 3rd quarter. Renaissance Technologies LLC now owns 129,078 shares of the company’s stock valued at $2,028,000 after acquiring an additional 900 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Joint by 3.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 30,355 shares of the company’s stock valued at $477,000 after acquiring an additional 949 shares in the last quarter. Finally, First Light Asset Management LLC lifted its holdings in Joint by 1.9% in the 1st quarter. First Light Asset Management LLC now owns 56,498 shares of the company’s stock worth $1,999,000 after purchasing an additional 1,046 shares during the last quarter. 76.88% of the stock is owned by institutional investors.

Joint Company Profile

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.