FONAR Co. (NASDAQ:FONR) Short Interest Up 6.2% in January

FONAR Co. (NASDAQ:FONR) was the recipient of a significant 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. Based on an average trading volume of 16,600 shares, the short-interest ratio is currently 1.0 days. Currently, 0.3% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of FONAR from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 16th.

FONAR Stock Performance

Shares of FONAR stock opened at $15.53 on Tuesday. The firm has a 50-day simple moving average of $15.53 and a two-hundred day simple moving average of $16.17. The company has a market cap of $98.30 million, a P/E ratio of 11.09 and a beta of 1.23. FONAR has a fifty-two week low of $14.05 and a fifty-two week high of $24.05.

FONAR (NASDAQ:FONR) last announced its quarterly earnings data on Tuesday, November 12th. The medical equipment provider reported $0.46 earnings per share (EPS) for the quarter. FONAR had a net margin of 9.41% and a return on equity of 6.10%. The company had revenue of $24.96 million during the quarter.

Institutional Investors Weigh In On FONAR

A number of hedge funds and other institutional investors have recently modified their holdings of FONR. Lakewood Asset Management LLC acquired a new position in FONAR during the third quarter worth about $173,000. Inspire Advisors LLC lifted its holdings in shares of FONAR by 21.2% in the third quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock valued at $556,000 after purchasing an additional 5,998 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of FONAR by 5.3% during the third quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock valued at $303,000 after buying an additional 938 shares during the period. Corsair Capital Management L.P. lifted its stake in shares of FONAR by 8.8% during the third quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock valued at $453,000 after buying an additional 2,266 shares during the period. Finally, JPMorgan Chase & Co. increased its position in FONAR by 148.3% during the third quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock worth $49,000 after purchasing an additional 1,799 shares during the last quarter. 50.64% of the stock is currently owned by institutional investors and hedge funds.

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.