FONAR Co. (NASDAQ:FONR) Short Interest Update

FONAR Co. (NASDAQ:FONR - Get Free Report) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 17,100 shares, a growth of 6.2% from the December 31st total of 16,100 shares. Approximately 0.3% of the company's stock are short sold. Based on an average daily volume of 16,600 shares, the days-to-cover ratio is currently 1.0 days.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Money Concepts Capital Corp raised its holdings in shares of FONAR by 5.9% in the 4th quarter. Money Concepts Capital Corp now owns 401,577 shares of the medical equipment provider's stock worth $6,080,000 after purchasing an additional 22,245 shares during the period. Peapod Lane Capital LLC bought a new stake in shares of FONAR in the fourth quarter valued at $2,159,000. Inspire Advisors LLC lifted its position in shares of FONAR by 21.2% during the 3rd quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider's stock valued at $556,000 after buying an additional 5,998 shares during the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of FONAR by 15.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider's stock worth $443,000 after acquiring an additional 3,837 shares during the period. Finally, Corsair Capital Management L.P. increased its holdings in FONAR by 8.8% in the 3rd quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider's stock worth $453,000 after acquiring an additional 2,266 shares during the last quarter. 50.64% of the stock is currently owned by hedge funds and other institutional investors.

FONAR Stock Performance

FONR traded down $0.18 during midday trading on Thursday, reaching $16.02. 47,959 shares of the company were exchanged, compared to its average volume of 12,248. The company has a market cap of $101.41 million, a price-to-earnings ratio of 11.44 and a beta of 1.23. FONAR has a one year low of $14.05 and a one year high of $24.05. The company's fifty day moving average price is $15.49 and its 200 day moving average price is $16.13.

FONAR (NASDAQ:FONR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The medical equipment provider reported $0.46 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 $24.96 million during 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.