Fonar Corporation (NASDAQ:FONR) Short Interest Update

Fonar Corporation (NASDAQ:FONR) was the recipient of a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 11,690 shares, an increase of 61.3% from the January 15th total of 7,246 shares. Based on an average daily trading volume, of 61,260 shares, the short-interest ratio is currently 0.2 days. Approximately 0.2% of the shares of the stock are short sold. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 61,260 shares, the short-interest ratio is currently 0.2 days.

Fonar Stock Performance

Shares of Fonar stock traded up $0.01 on Friday, reaching $18.55. The company had a trading volume of 79,644 shares, compared to its average volume of 70,807. Fonar has a 52-week low of $12.00 and a 52-week high of $18.86. The firm’s 50 day moving average price is $17.34 and its two-hundred day moving average price is $15.97. The firm has a market cap of $115.07 million, a PE ratio of 16.71 and a beta of 1.00.

Fonar (NASDAQ:FONR) last announced its quarterly earnings data on Friday, February 13th. The medical equipment provider reported $0.31 earnings per share (EPS) for the quarter. The business had revenue of $25.55 million during the quarter. Fonar had a return on equity of 4.66% and a net margin of 7.08%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FONR. Marshall Wace LLP acquired a new position in Fonar during the 4th quarter valued at about $523,000. Renaissance Technologies LLC boosted its position in shares of Fonar by 2.3% in the fourth quarter. Renaissance Technologies LLC now owns 315,716 shares of the medical equipment provider’s stock worth $5,860,000 after buying an additional 7,100 shares during the period. Empowered Funds LLC lifted its position in shares of Fonar by 9.3% in the fourth quarter. Empowered Funds LLC now owns 27,765 shares of the medical equipment provider’s stock worth $515,000 after purchasing an additional 2,373 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Fonar by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 69,612 shares of the medical equipment provider’s stock worth $1,292,000 after acquiring an additional 1,336 shares during the last quarter. Finally, Money Concepts Capital Corp lifted its holdings in shares of Fonar by 5.6% during the 4th quarter. Money Concepts Capital Corp now owns 510,672 shares of the medical equipment provider’s stock valued at $9,478,000 after buying an additional 27,150 shares during the last quarter. 50.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised Fonar to a “hold” rating in a report on Friday, November 28th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Fonar Company Profile

Fonar Corporation is a medical technology company primarily engaged in the design, manufacture and sale of magnetic resonance imaging (MRI) systems. The company’s flagship product, the UPRIGHT® Multi-Position™ MRI, enables patients to be scanned in standing, seated and traditional recumbent positions, offering enhanced diagnostic capabilities for musculoskeletal, neurological and vascular conditions. In addition to MRI equipment sales, Fonar provides equipment installation, training and maintenance services to hospitals, imaging centers and private practices.

Headquartered in Melville, New York, Fonar markets its MRI systems both domestically and internationally, supported by a network of service engineers and customer support personnel.