FONAR Co. (NASDAQ:FONR) Sees Large Decrease in Short Interest

FONAR Co. (NASDAQ:FONR) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 8,500 shares, a decrease of 14.1% from the March 15th total of 9,900 shares. Based on an average daily volume of 19,000 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the shares of the stock are short sold.

FONAR Stock Performance

FONR opened at $16.83 on Tuesday. The firm’s 50-day simple moving average is $21.38 and its 200-day simple moving average is $18.85. FONAR has a twelve month low of $12.13 and a twelve month high of $24.05. The firm has a market cap of $106.53 million, a price-to-earnings ratio of 9.15 and a beta of 1.12.

FONAR (NASDAQ:FONR) last issued its quarterly earnings data on Wednesday, February 14th. The medical equipment provider reported $0.54 EPS for the quarter. FONAR had a net margin of 12.63% and a return on equity of 8.47%. The firm had revenue of $25.39 million for the quarter.

Institutional Investors Weigh In On FONAR

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG lifted its position in FONAR by 38,600.0% during the 1st quarter. UBS Group AG now owns 1,548 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 1,544 shares during the period. Barclays PLC acquired a new position in FONAR during the 4th quarter valued at about $124,000. Marquette Asset Management LLC acquired a new position in FONAR during the 4th quarter valued at about $168,000. Royal Bank of Canada lifted its position in FONAR by 15.4% during the 3rd quarter. Royal Bank of Canada now owns 10,500 shares of the medical equipment provider’s stock valued at $148,000 after purchasing an additional 1,400 shares during the period. Finally, Carmel Capital Partners LLC lifted its position in FONAR by 725.1% during the 4th quarter. Carmel Capital Partners LLC now owns 12,088 shares of the medical equipment provider’s stock valued at $236,000 after purchasing an additional 10,623 shares during the period. Institutional investors own 50.64% of the company’s stock.

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.