Joint (NASDAQ:JYNT) Share Price Crosses Above Fifty Day Moving Average of $11.48

The Joint Corp. (NASDAQ:JYNT)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 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 trading hands.

Analyst Upgrades and Downgrades

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

Joint Stock Up 2.2 %

The firm has a market cap of $180.02 million, a P/E ratio of -18.35 and a beta of 1.59. The firm’s 50 day moving average is $11.52 and its two-hundred day moving average is $9.81. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.08.

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

Institutional Investors Weigh In On Joint

Several large investors have recently modified their holdings of the business. Bandera Partners LLC increased its position in shares of Joint by 337.5% during the first quarter. Bandera Partners LLC now owns 1,000,000 shares of the company’s stock worth $35,390,000 after acquiring an additional 771,453 shares in the last quarter. Millennium Management LLC increased its holdings in Joint by 158.8% during the 4th quarter. Millennium Management LLC now owns 562,444 shares of the company’s stock worth $7,863,000 after purchasing an additional 345,133 shares in the last quarter. First Foundation Advisors bought a new position in Joint during the 3rd quarter worth about $1,336,000. Skylands Capital LLC raised its stake in shares of Joint by 20.3% in the 4th quarter. Skylands Capital LLC now owns 603,640 shares of the company’s stock valued at $5,801,000 after purchasing an additional 101,850 shares during the period. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Joint in the third quarter valued at about $867,000. 76.88% of the stock is currently owned by institutional investors.

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.