Why The Joint Corp. (JYNT) shares are suddenly plunging -4.84% today

What just happened? The Joint Corp. (NASDAQ:JYNT) stock value has plummeted by nearly -4.84% or (-0.94 points) to $18.49 from its previous close of $19.43. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 142857 contracts so far this session. JYNT shares had a relatively better volume day versus average trading capacity of 152.73 thousand shares, but with a 12.88 million float and a 11.67% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for JYNT stock indicates that the average analyst price target is $17.8 per share. This means the stock has a potential decrease of -3.73% from where the JYNT share price has been trading recently which is between $18.605 and $19.67. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $16.

The shorts are climbing into The Joint Corp. (JYNT) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in JYNT shares. While short interest still represents only 1.41% of JYNT’s float, the number of shares shorted have risen by 120247. The number of shares shorted advanced to 301655 shares, up from 181408 shares during the preceding fortnight. With average daily trading volumes at 117453 shares, days to cover increased to about 1.634704 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “The Joint Corp. (JYNT) Is Up 9.28% in One Week: What You Should Know” and dated May 15, 2019.

During the recent trading session for The Joint Corp. (NASDAQ:JYNT), the company witnessed their stock drop by $-0.77 over a week and surge $1.6 from the price 20 days ago. When compared to their established 52-week high of $19.81, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/10/19. The recent low of $6.51 stood for a -6.67% since 12/20/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.87 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for The Joint Corp., the two-week RSI stands at 58.02. This figure suggests that JYNT stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current JYNT readings is similarly very revealing as it has a stochastic reading of 67.07% at this stage. This figure means that JYNT share price today is being neutral.

Technical chart claims that The Joint Corp. (JYNT) would settle between $19.86/share to $20.3/share level. However, if the stock price goes below the $18.8 mark, then the market for The Joint Corp. becomes much weaker. If that happens, the stock price might even plunge as low as $18.17 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.45. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Maxim Group lifted target price for shares of JYNT but were stick to Buy recommendation for the stock in their opinion released on March 08. The price target has been raised from $11 to $18. DA Davidson, analysts launched coverage of The Joint Corp. (NASDAQ:JYNT) stock with a Buy recommendation, according to their flash note issued to investors on January 18. Analysts at Maxim Group are sticking to their Buy stance. However, on April 12, they lifted price target for these shares to $9 from $7.

JYNT equity has an average rating of 1.8, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated The Joint Corp. (NASDAQ:JYNT) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, JYNT stock price is currently trading at 49.69X forward 12-month Consensus EPS estimates, and its P/S ratio is 2.85 while for the average stock in the same group, the multiple is 18.19.