FONAR Co. (NASDAQ:FONR) Short Interest Update

FONAR Co. (NASDAQ:FONRGet Free Report) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 17,100 shares, an increase of 6.2% from the December 31st total of 16,100 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 16,600 shares, the short-interest ratio is presently 1.0 days.

FONAR Stock Up 0.8 %

Shares of FONR stock opened at $15.66 on Wednesday. The company’s fifty day simple moving average is $15.50 and its two-hundred day simple moving average is $16.13. FONAR has a 52 week low of $14.05 and a 52 week high of $24.05. The stock has a market cap of $99.13 million, a P/E ratio of 11.19 and a beta of 1.23.

FONAR (NASDAQ:FONRGet Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The medical equipment provider reported $0.46 earnings per share (EPS) for the quarter. FONAR had a return on equity of 6.10% and a net margin of 9.41%. The business had revenue of $24.96 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded FONAR from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 16th.

Read Our Latest Stock Analysis on FONAR

Institutional Trading of FONAR

Institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC grew its stake in FONAR by 5.3% in the third quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock valued at $303,000 after purchasing an additional 938 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of FONAR by 148.3% during the third quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock worth $49,000 after purchasing an additional 1,799 shares during the last quarter. Corsair Capital Management L.P. lifted its holdings in shares of FONAR by 8.8% in the 3rd quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock valued at $453,000 after buying an additional 2,266 shares during the period. Linden Thomas Advisory Services LLC lifted its holdings in FONAR by 15.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider’s stock valued at $443,000 after acquiring an additional 3,837 shares during the period. Finally, Inspire Advisors LLC lifted its stake in shares of FONAR by 21.2% in the 3rd quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock valued at $556,000 after purchasing an additional 5,998 shares during the period. Institutional investors own 50.64% of the company’s stock.

About FONAR

(Get Free Report)

FONAR Corporation, together with its subsidiaries, engages in the research, development, production, and marketing of magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases in the United States. The company operates in two segments, Medical Equipment, and Physician Management and Diagnostic Services.

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