Fonar Corporation (NASDAQ:FONR) Sees Significant Growth in Short Interest

Fonar Corporation (NASDAQ:FONR) saw a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 11,690 shares, an increase of 61.3% from the January 15th total of 7,246 shares. Based on an average daily trading volume, of 61,260 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.2% of the company’s shares are short sold. Currently, 0.2% of the company’s shares are short sold. Based on an average daily trading volume, of 61,260 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Fonar to a “hold” rating in a research report on Friday, November 28th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Fonar currently has a consensus rating of “Hold”.

Fonar Stock Up 0.1%

Shares of NASDAQ:FONR traded up $0.01 during midday trading on Friday, hitting $18.55. The stock had a trading volume of 79,644 shares, compared to its average volume of 70,807. The business’s 50-day simple moving average is $17.34 and its 200-day simple moving average is $15.97. Fonar has a 12 month low of $12.00 and a 12 month high of $18.86. The company has a market cap of $115.07 million, a P/E ratio of 16.71 and a beta of 1.00.

Fonar (NASDAQ:FONR) last announced its quarterly earnings results on Friday, February 13th. The medical equipment provider reported $0.31 EPS for the quarter. The firm had revenue of $25.55 million during the quarter. Fonar had a net margin of 7.08% and a return on equity of 4.66%.

Institutional Investors Weigh In On Fonar

A number of institutional investors have recently modified their holdings of the business. Marshall Wace LLP acquired a new position in Fonar in the fourth quarter valued at about $523,000. Renaissance Technologies LLC grew its holdings 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 acquiring an additional 7,100 shares during the last quarter. Empowered Funds LLC grew its position in shares of Fonar by 9.3% in the 4th quarter. Empowered Funds LLC now owns 27,765 shares of the medical equipment provider’s stock valued at $515,000 after buying an additional 2,373 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Fonar by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 69,612 shares of the medical equipment provider’s stock worth $1,292,000 after buying an additional 1,336 shares during the period. Finally, Money Concepts Capital Corp boosted its holdings in shares of Fonar by 5.6% during the 4th quarter. Money Concepts Capital Corp now owns 510,672 shares of the medical equipment provider’s stock worth $9,478,000 after buying an additional 27,150 shares in the last quarter. Institutional investors own 50.64% of the company’s stock.

Fonar Company Profile

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.