FONAR Co. (NASDAQ:FONR) Sees Large Increase in Short Interest

FONAR Co. (NASDAQ:FONR - Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 22,700 shares, an increase of 19.5% from the March 15th total of 19,000 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 13,200 shares, the days-to-cover ratio is presently 1.7 days.

FONAR Trading Up 0.7 %

Shares of NASDAQ:FONR traded up $0.08 on Friday, hitting $12.28. The company had a trading volume of 400 shares, compared to its average volume of 16,267. The stock has a market cap of $76.17 million, a price-to-earnings ratio of 10.68 and a beta of 1.17. The stock has a 50 day moving average price of $13.56 and a 200 day moving average price of $14.86. FONAR has a 1-year low of $12.02 and a 1-year high of $18.68.

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

Hedge Funds Weigh In On FONAR

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in FONAR by 148.3% in 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. Empowered Funds LLC boosted its position in shares of 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 during the period. Linden Thomas Advisory Services LLC grew its stake in shares of 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. Bridgeway Capital Management LLC increased its position in FONAR by 1.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 80,035 shares of the medical equipment provider's stock worth $1,212,000 after acquiring an additional 945 shares during the period. Finally, Truffle Hound Capital LLC acquired a new stake in FONAR in the 4th quarter worth about $1,363,000. Institutional investors own 50.64% of the company's stock.

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.