Fonar Corporation (NASDAQ:FONR) Short Interest Update

Fonar Corporation (NASDAQ:FONR) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 79,870 shares, a decrease of 27.5% from the February 26th total of 110,156 shares. Based on an average daily volume of 64,666 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.3% of the shares of the company are short sold.

Fonar Trading Up 0.2%

Shares of NASDAQ FONR traded up $0.03 during midday trading on Friday, reaching $18.57. The company had a trading volume of 91,573 shares, compared to its average volume of 58,473. Fonar has a 1 year low of $12.00 and a 1 year high of $18.86. The business’s 50-day simple moving average is $18.55 and its 200 day simple moving average is $16.60. The stock has a market cap of $114.63 million, a P/E ratio of 16.43 and a beta of 0.99.

Fonar (NASDAQ:FONR) last released its earnings results on Friday, February 13th. The medical equipment provider reported $0.31 earnings per share (EPS) for the quarter. The firm had revenue of $18.25 million for the quarter. Fonar had a return on equity of 4.69% and a net margin of 7.13%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FONR. Money Concepts Capital Corp lifted its holdings in shares of Fonar by 5.6% during the fourth quarter. Money Concepts Capital Corp now owns 510,672 shares of the medical equipment provider’s stock worth $9,478,000 after purchasing an additional 27,150 shares during the period. Dimensional Fund Advisors LP increased its holdings in Fonar by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 376,976 shares of the medical equipment provider’s stock worth $5,677,000 after buying an additional 4,413 shares during the period. Renaissance Technologies LLC raised its position in Fonar by 2.3% during the 4th quarter. Renaissance Technologies LLC now owns 315,716 shares of the medical equipment provider’s stock worth $5,860,000 after buying an additional 7,100 shares during the last quarter. Bridgeway Capital Management LLC raised its position in Fonar by 2.3% during the 2nd quarter. Bridgeway Capital Management LLC now owns 83,382 shares of the medical equipment provider’s stock worth $1,247,000 after buying an additional 1,843 shares during the last quarter. Finally, RBF Capital LLC lifted its stake in Fonar by 3.3% during the 4th quarter. RBF Capital LLC now owns 75,447 shares of the medical equipment provider’s stock valued at $1,400,000 after acquiring an additional 2,389 shares during the period. 50.64% of the stock is owned by institutional investors and hedge funds.

About Fonar

Fonar Corporation is a medical technology company primarily engaged in the design, manufacture and sale of magnetic resonance imaging (MRI) systems. The company’s flagship product, the UPRIGHT® Multi-Position™ MRI, enables patients to be scanned in standing, seated and traditional recumbent positions, offering enhanced diagnostic capabilities for musculoskeletal, neurological and vascular conditions. In addition to MRI equipment sales, Fonar provides equipment installation, training and maintenance services to hospitals, imaging centers and private practices.

Headquartered in Melville, New York, Fonar markets its MRI systems both domestically and internationally, supported by a network of service engineers and customer support personnel.