FONAR Co. (NASDAQ:FONR) Short Interest Update

FONAR Co. (NASDAQ:FONR) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 21,200 shares, an increase of 30.9% from the September 30th total of 16,200 shares. Based on an average daily volume of 13,400 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.3% of the shares of the stock are sold short.

FONAR Stock Down 0.6 %

FONR stock opened at $15.30 on Wednesday. The stock has a market capitalization of $96.82 million, a price-to-earnings ratio of 9.79 and a beta of 1.19. The stock’s fifty day simple moving average is $16.48 and its 200-day simple moving average is $16.42. FONAR has a 52-week low of $12.99 and a 52-week high of $24.05.

FONAR (NASDAQ:FONR) last posted its quarterly earnings results on Friday, September 27th. The medical equipment provider reported $0.13 EPS for the quarter. FONAR had a return on equity of 6.77% and a net margin of 10.27%. The company had revenue of $25.94 million during the quarter.

Analyst Ratings Changes

Separately, StockNews.com raised shares of FONAR from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 30th.

Hedge Funds Weigh In On FONAR

Several institutional investors and hedge funds have recently bought and sold shares of FONR. Lakewood Asset Management LLC purchased a new stake in FONAR during the third quarter worth approximately $173,000. Inspire Advisors LLC purchased a new position in FONAR in the first quarter valued at about $218,000. Denali Advisors LLC raised its position in FONAR by 20.1% in the first quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock valued at $344,000 after purchasing an additional 2,700 shares during the period. Linden Thomas Advisory Services LLC boosted its position in shares of FONAR by 9.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 21,605 shares of the medical equipment provider’s stock worth $346,000 after buying an additional 1,900 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of FONAR by 37.6% in the first quarter. Empowered Funds LLC now owns 16,492 shares of the medical equipment provider’s stock valued at $352,000 after buying an additional 4,507 shares in the last quarter. Institutional investors and hedge funds 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.