Joint (NASDAQ:JYNT) Rating Lowered to Hold at StockNews.com

Joint (NASDAQ:JYNT) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Joint Stock Down 0.6 %

NASDAQ:JYNT traded down $0.07 during midday trading on Thursday, hitting $11.88. The company had a trading volume of 58,552 shares, compared to its average volume of 68,102. Joint has a 52-week low of $7.31 and a 52-week high of $17.82. The stock’s fifty day moving average price is $11.25 and its 200-day moving average price is $12.97. The company has a market capitalization of $178.20 million, a PE ratio of -12.12 and a beta of 1.57.

Joint (NASDAQ:JYNT) last announced its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Joint had a positive return on equity of 2.17% and a negative net margin of 12.00%. The company had revenue of $30.26 million during the quarter, compared to analysts’ expectations of $29.65 million. As a group, research analysts forecast that Joint will post 0.13 earnings per share for the current year.

Institutional Trading of Joint

Several institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new stake in shares of Joint during the second quarter worth about $144,000. Sargent Investment Group LLC purchased a new stake in shares of Joint during the second quarter worth about $150,000. XTX Topco Ltd purchased a new stake in shares of Joint during the second quarter worth about $174,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Joint by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,464 shares of the company’s stock worth $229,000 after purchasing an additional 837 shares during the period. Finally, Avondale Wealth Management raised its stake in Joint by 15.8% in the second quarter. Avondale Wealth Management now owns 22,000 shares of the company’s stock worth $309,000 after buying an additional 3,000 shares in the last quarter. 76.88% of the stock is currently owned by hedge funds and other 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.