FONAR Co. (NASDAQ:FONR) Short Interest Down 25.1% in February

FONAR Co. (NASDAQ:FONR) saw a large 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. Based on an average daily trading volume, of 13,500 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.2% of the company’s shares are short sold.

FONAR Trading Up 0.3 %

Shares of NASDAQ FONR opened at $13.82 on Friday. The firm has a market capitalization of $85.73 million, a P/E ratio of 12.02 and a beta of 1.27. The firm’s 50-day moving average price is $15.19 and its 200-day moving average price is $15.65. FONAR has a 1-year low of $13.27 and a 1-year high of $22.39.

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

Hedge Funds Weigh In On FONAR

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings 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 buying an additional 1,799 shares during the last quarter. Empowered Funds LLC increased its position in shares of FONAR by 5.1% during the fourth quarter. Empowered Funds LLC now owns 19,635 shares of the medical equipment provider’s stock worth $297,000 after acquiring an additional 945 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of FONAR by 15.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider’s stock worth $443,000 after acquiring an additional 3,837 shares during the last quarter. Corsair Capital Management L.P. lifted its position in FONAR by 8.8% in the 3rd quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock valued at $453,000 after acquiring an additional 2,266 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in FONAR by 1.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 80,035 shares of the medical equipment provider’s stock valued at $1,212,000 after purchasing an additional 945 shares during the last quarter. 50.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

About FONAR

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.