FONAR (NASDAQ:FONR) Stock Price Crosses Above 200-Day Moving Average of $16.02

FONAR Co. (NASDAQ:FONRGet Rating)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.02 and traded as high as $18.75. FONAR shares last traded at $18.72, with a volume of 9,888 shares traded.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of FONAR from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 24th. TheStreet downgraded shares of FONAR from a “b-” rating to a “c+” rating in a research report on Tuesday, December 20th.

FONAR Stock Performance

The company has a quick ratio of 7.84, a current ratio of 8.01 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $17.78 and its 200-day simple moving average is $16.05.

FONAR (NASDAQ:FONRGet Rating) last released its earnings results on Monday, November 14th. The medical equipment provider reported $0.29 earnings per share (EPS) for the quarter. The company had revenue of $23.19 million for the quarter. FONAR had a net margin of 10.92% and a return on equity of 8.28%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in FONAR by 3.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 376,486 shares of the medical equipment provider’s stock valued at $6,984,000 after purchasing an additional 11,745 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of FONAR by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 41,609 shares of the medical equipment provider’s stock worth $771,000 after acquiring an additional 1,353 shares during the period. American Century Companies Inc. lifted its holdings in shares of FONAR by 27.9% during the 1st quarter. American Century Companies Inc. now owns 23,960 shares of the medical equipment provider’s stock worth $444,000 after acquiring an additional 5,232 shares during the period. State Street Corp lifted its holdings in shares of FONAR by 9.6% during the 1st quarter. State Street Corp now owns 19,354 shares of the medical equipment provider’s stock worth $359,000 after acquiring an additional 1,696 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of FONAR by 99.1% during the 1st quarter. Acadian Asset Management LLC now owns 14,018 shares of the medical equipment provider’s stock worth $258,000 after acquiring an additional 6,978 shares during the period. 44.93% of the stock is currently owned by hedge funds and other institutional investors.

About FONAR

(Get Rating)

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.

See Also

Receive News & Ratings for FONAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FONAR and related companies with MarketBeat.com's FREE daily email newsletter.