FONAR Co. (NASDAQ:FONR - Get Free Report) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 16,100 shares, an increase of 20.1% from the November 30th total of 13,400 shares. Based on an average daily trading volume, of 19,100 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.3% of the company's stock are sold short.
FONAR Stock Performance
FONR stock traded down $0.35 during trading on Friday, reaching $14.95. The company had a trading volume of 21,270 shares, compared to its average volume of 17,997. The company has a market cap of $94.60 million, a price-to-earnings ratio of 10.68 and a beta of 1.21. FONAR has a twelve month low of $14.05 and a twelve month high of $24.05. The firm has a 50-day simple moving average of $15.50 and a 200-day simple moving average of $16.27.
FONAR (NASDAQ:FONR - Get Free Report) last posted its quarterly earnings data on Friday, September 27th. The medical equipment provider reported $0.13 EPS for the quarter. The business had revenue of $25.94 million during the quarter. FONAR had a net margin of 9.41% and a return on equity of 6.10%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut FONAR from a "strong-buy" rating to a "buy" rating in a research note on Saturday, November 16th.
Read Our Latest Stock Report on FONAR
Hedge Funds Weigh In On FONAR
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FONR. Acuitas Investments LLC increased its holdings in shares of FONAR by 142.1% in the second quarter. Acuitas Investments LLC now owns 113,400 shares of the medical equipment provider's stock valued at $1,814,000 after purchasing an additional 66,563 shares during the period. Inspire Advisors LLC boosted its position in FONAR by 177.3% in the second quarter. Inspire Advisors LLC now owns 28,344 shares of the medical equipment provider's stock valued at $454,000 after buying an additional 18,124 shares during the last quarter. Renaissance Technologies LLC increased its holdings in FONAR by 11.5% in the 2nd quarter. Renaissance Technologies LLC now owns 344,216 shares of the medical equipment provider's stock worth $5,507,000 after buying an additional 35,375 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in FONAR by 1.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 609,789 shares of the medical equipment provider's stock worth $9,757,000 after buying an additional 7,645 shares during the period. Finally, Lakewood Asset Management LLC purchased a new position in FONAR during the 3rd quarter worth approximately $173,000. Hedge funds and other institutional investors own 50.64% of the company's stock.
About FONAR
(
Get Free Report)
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.
Further Reading
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