Fonar Co. (NASDAQ:FONR) saw a significant decrease in short interest in July. As of July 31st, there was short interest totalling 34,900 shares, a decrease of 45.0% from the June 30th total of 63,500 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily volume of 62,000 shares, the days-to-cover ratio is presently 0.6 days.

NASDAQ:FONR remained flat at $$23.43 during midday trading on Wednesday. The company had a trading volume of 12,722 shares, compared to its average volume of 37,672. Fonar has a 52 week low of $18.85 and a 52 week high of $27.25. The company has a market capitalization of $147.69 million, a PE ratio of 7.88 and a beta of 0.84. The business has a 50 day moving average of $22.63.

Fonar (NASDAQ:FONR) last announced its quarterly earnings data on Monday, May 13th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter. Fonar had a return on equity of 17.82% and a net margin of 22.50%. The company had revenue of $22.78 million for the quarter.

A number of large investors have recently made changes to their positions in FONR. BNP Paribas Arbitrage SA grew its stake in Fonar by 720.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,312 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 1,152 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Fonar during the 1st quarter valued at $31,000. O Shaughnessy Asset Management LLC bought a new stake in Fonar during the 1st quarter valued at $49,000. Russell Investments Group Ltd. boosted its position in Fonar by 23.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,362 shares of the medical equipment provider’s stock valued at $51,000 after acquiring an additional 456 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Fonar by 14.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 4,334 shares of the medical equipment provider’s stock valued at $93,000 after acquiring an additional 561 shares in the last quarter. 50.67% of the stock is currently owned by institutional investors.

About Fonar

FONAR Corporation, together with its subsidiaries, operates as a magnetic resonance imaging (MRI) company primarily in the Unites States. It is involved in the research, development, production, and marketing of medical scanning equipment, which uses principles of MRI for the detection and diagnosis of human diseases, abnormalities, other medical conditions, and injuries.

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