Short Interest in FONAR Co. (NASDAQ:FONR) Expands By 20.1%

FONAR Co. (NASDAQ:FONR) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 16,100 shares, a growth of 20.1% from the November 30th total of 13,400 shares. Based on an average trading volume of 19,100 shares, the short-interest ratio is currently 0.8 days. Currently, 0.3% of the shares of the stock are short sold.

Institutional Investors Weigh In On FONAR

A number of hedge funds have recently bought and sold shares of FONR. JPMorgan Chase & Co. raised its position in shares of FONAR by 148.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock valued at $49,000 after buying an additional 1,799 shares in the last quarter. Lakewood Asset Management LLC purchased a new stake in FONAR in the 3rd quarter valued at about $173,000. 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 worth $303,000 after purchasing an additional 938 shares in the last quarter. Corsair Capital Management L.P. grew its position in shares of FONAR by 8.8% during the 3rd quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock worth $453,000 after buying an additional 2,266 shares in the last quarter. Finally, Inspire Advisors LLC increased its position in FONAR by 177.3% during the 2nd quarter. Inspire Advisors LLC now owns 28,344 shares of the medical equipment provider’s stock valued at $454,000 after purchasing an additional 18,124 shares during the period. Hedge funds and other institutional investors own 50.64% of the company’s stock.

FONAR Trading Down 2.3 %

Shares of NASDAQ:FONR traded down $0.35 during mid-day trading on Friday, reaching $14.95. The stock had a trading volume of 21,270 shares, compared to its average volume of 17,997. The business’s 50 day moving average price is $15.50 and its 200 day moving average price is $16.26. FONAR has a 1 year low of $14.05 and a 1 year high of $24.05. The company has a market cap of $94.60 million, a P/E ratio of 10.68 and a beta of 1.21.

FONAR (NASDAQ:FONR) last issued its quarterly earnings data on Friday, September 27th. The medical equipment provider reported $0.13 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 $25.94 million for the quarter.

Analyst Ratings Changes

Separately, StockNews.com cut shares of FONAR from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 16th.

About FONAR

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.