FONAR Co. (NASDAQ:FONR) Short Interest Up 7.8% in September

FONAR Co. (NASDAQ:FONR) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 13,900 shares, a growth of 7.8% from the August 31st total of 12,900 shares. Based on an average daily volume of 11,700 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.2% of the company’s shares are short sold.

FONAR Stock Down 2.1 %

Shares of NASDAQ FONR opened at $15.85 on Wednesday. FONAR has a 12-month low of $12.13 and a 12-month high of $24.05. The firm has a market cap of $100.30 million, a PE ratio of 10.16 and a beta of 1.19. The company’s fifty day simple moving average is $17.23 and its 200 day simple moving average is $17.13.

Institutional Trading of FONAR

Several large investors have recently made changes to their positions in the company. Inspire Advisors LLC acquired a new stake in FONAR in the 1st quarter valued at $218,000. Denali Advisors LLC grew its holdings in shares of FONAR by 20.1% during the first quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock valued at $344,000 after buying an additional 2,700 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of FONAR by 9.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 21,605 shares of the medical equipment provider’s stock worth $346,000 after acquiring an additional 1,900 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of FONAR by 37.6% in the 1st quarter. Empowered Funds LLC now owns 16,492 shares of the medical equipment provider’s stock worth $352,000 after acquiring an additional 4,507 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in FONAR by 38.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 32,978 shares of the medical equipment provider’s stock valued at $704,000 after purchasing an additional 9,237 shares during the last quarter. 50.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded FONAR from a “buy” rating to a “strong-buy” rating in a report on Monday.

FONAR Company Profile

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.