Fonar Corporation (NASDAQ:FONR) Short Interest Up 113.8% in February

Fonar Corporation (NASDAQ:FONR) saw a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 24,999 shares, an increase of 113.8% from the January 29th total of 11,690 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily volume of 87,409 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 87,409 shares, the short-interest ratio is presently 0.3 days. Currently, 0.4% of the company’s shares are short sold.

Fonar Price Performance

Shares of FONR stock traded up $0.03 during trading hours on Friday, reaching $18.60. The company had a trading volume of 66,382 shares, compared to its average volume of 70,575. The company has a market cap of $114.76 million, a price-to-earnings ratio of 16.46 and a beta of 1.00. Fonar has a 12 month low of $12.00 and a 12 month high of $18.86. The business has a fifty day simple moving average of $18.11 and a 200-day simple moving average of $16.18.

Fonar (NASDAQ:FONR) last issued its quarterly earnings results on Friday, February 13th. The medical equipment provider reported $0.31 EPS for the quarter. The business had revenue of $18.25 million for the quarter. Fonar had a return on equity of 4.69% and a net margin of 7.13%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Fonar

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in Fonar by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 69,612 shares of the medical equipment provider’s stock valued at $1,292,000 after acquiring an additional 1,336 shares in the last quarter. Empowered Funds LLC grew its position in Fonar by 7.7% in the 1st quarter. Empowered Funds LLC now owns 21,139 shares of the medical equipment provider’s stock worth $296,000 after purchasing an additional 1,504 shares during the period. Bridgeway Capital Management LLC increased its position in shares of Fonar by 2.3% during the 2nd quarter. Bridgeway Capital Management LLC now owns 83,382 shares of the medical equipment provider’s stock valued at $1,247,000 after purchasing an additional 1,843 shares during the last quarter. RBF Capital LLC lifted its position in Fonar by 3.3% during the fourth quarter. RBF Capital LLC now owns 75,447 shares of the medical equipment provider’s stock valued at $1,400,000 after purchasing an additional 2,389 shares in the last quarter. Finally, Lakewood Asset Management LLC raised its stake in Fonar by 15.1% during the 4th quarter. Lakewood Asset Management LLC now owns 19,057 shares of the medical equipment provider’s stock worth $354,000 after acquiring an additional 2,493 shares during the period. 50.64% of the stock is currently owned by institutional investors.

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.