FONAR Co. (NASDAQ:FONR) Short Interest Update

FONAR Co. (NASDAQ:FONR) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 13,100 shares, a decline of 25.1% from the February 13th total of 17,500 shares. Based on an average daily trading volume, of 13,500 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.2% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in FONAR by 148.3% in the third quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock valued at $49,000 after acquiring an additional 1,799 shares in the last quarter. Empowered Funds LLC boosted its holdings in FONAR by 5.1% in the fourth quarter. Empowered Funds LLC now owns 19,635 shares of the medical equipment provider’s stock valued at $297,000 after acquiring an additional 945 shares in the last quarter. Linden Thomas Advisory Services LLC boosted 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 in the last quarter. Corsair Capital Management L.P. boosted its holdings in FONAR by 8.8% in the third quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock valued at $453,000 after acquiring an additional 2,266 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in FONAR by 1.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 80,035 shares of the medical equipment provider’s stock valued at $1,212,000 after acquiring an additional 945 shares in the last quarter. 50.64% of the stock is owned by hedge funds and other institutional investors.

FONAR Stock Up 1.2 %

Shares of NASDAQ FONR opened at $13.98 on Tuesday. FONAR has a 52 week low of $13.27 and a 52 week high of $22.39. The firm’s fifty day moving average is $15.16 and its 200 day moving average is $15.62. The company has a market cap of $86.72 million, a price-to-earnings ratio of 12.16 and a beta of 1.27.

FONAR (NASDAQ:FONR) last issued its earnings results on Wednesday, February 19th. The medical equipment provider reported $0.29 EPS for the quarter. FONAR had a net margin of 7.68% and a return on equity of 4.94%. The company had revenue of $24.95 million for the quarter.

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.