FONAR Co. (NASDAQ:FONR) Sees Significant Decline in Short Interest

FONAR Co. (NASDAQ:FONR) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 8,400 shares, a decline of 11.6% from the October 31st total of 9,500 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 19,000 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of FONAR

A number of hedge funds and other institutional investors have recently made changes to their positions in FONR. Lakewood Asset Management LLC acquired a new stake in FONAR in the 3rd quarter valued at about $173,000. Empowered Funds LLC raised its holdings in shares of FONAR by 5.3% in the 3rd 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. Linden Thomas Advisory Services LLC lifted its stake in FONAR by 9.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 21,605 shares of the medical equipment provider’s stock valued at $346,000 after purchasing an additional 1,900 shares during the last quarter. Corsair Capital Management L.P. grew its position in FONAR by 8.8% in the third 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. Finally, Inspire Advisors LLC grew 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 worth $454,000 after buying an additional 18,124 shares during the last quarter. 50.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

FONAR Trading Up 0.1 %

FONR traded up $0.02 on Tuesday, hitting $16.09. 24,639 shares of the company’s stock were exchanged, compared to its average volume of 18,439. The stock has a fifty day moving average of $15.75 and a two-hundred day moving average of $16.25. FONAR has a twelve month low of $14.05 and a twelve month high of $24.05. The firm has a market cap of $101.85 million, a PE ratio of 11.49 and a beta of 1.21.

FONAR (NASDAQ:FONR) last released its quarterly earnings data on Friday, September 27th. The medical equipment provider reported $0.13 earnings per share for the quarter. The business had revenue of $25.94 million for the quarter. FONAR had a net margin of 9.41% and a return on equity of 6.10%.

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.