FONAR Co. (NASDAQ:FONR - Get Free Report) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 13,100 shares, a drop of 25.1% from the February 13th total of 17,500 shares. Approximately 0.2% of the company's shares are sold short. Based on an average trading volume of 13,500 shares, the days-to-cover ratio is presently 1.0 days.
FONAR Trading Down 0.4 %
Shares of FONAR stock traded down $0.05 on Thursday, hitting $13.81. 8,112 shares of the company traded hands, compared to its average volume of 16,773. The company has a market cap of $85.66 million, a PE ratio of 12.01 and a beta of 1.27. The stock's 50 day moving average price is $15.11 and its 200-day moving average price is $15.58. FONAR has a 52 week low of $13.27 and a 52 week high of $22.39.
FONAR (NASDAQ:FONR - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The medical equipment provider reported $0.29 EPS for the quarter. FONAR had a return on equity of 4.94% and a net margin of 7.68%. The company had revenue of $24.95 million for the quarter.
Institutional Trading of FONAR
Several institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC raised its holdings in FONAR by 5.3% in the third quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider's stock worth $303,000 after purchasing an additional 938 shares in the last quarter. Corsair Capital Management L.P. grew its stake in FONAR by 8.8% during the 3rd quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider's stock worth $453,000 after buying an additional 2,266 shares during the last quarter. JPMorgan Chase & Co. increased its position in FONAR by 148.3% during 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. Linden Thomas Advisory Services LLC increased its position in 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 valued at $443,000 after buying an additional 3,837 shares in the last quarter. Finally, Money Concepts Capital Corp raised its stake in FONAR by 5.9% in the fourth quarter. Money Concepts Capital Corp now owns 401,577 shares of the medical equipment provider's stock valued at $6,080,000 after buying an additional 22,245 shares during the last quarter. 50.64% of the stock is currently owned by institutional investors.
About FONAR
(
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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.
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