FONAR Co. (NASDAQ:FONR) Short Interest Update

FONAR Co. (NASDAQ:FONR) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 19,000 shares, a growth of 45.0% from the February 28th total of 13,100 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 13,000 shares, the days-to-cover ratio is currently 1.5 days.

FONAR Trading Up 1.3 %

FONR stock traded up $0.18 during midday trading on Monday, reaching $14.08. The stock had a trading volume of 3,393 shares, compared to its average volume of 16,504. FONAR has a 52-week low of $13.27 and a 52-week high of $21.25. The company’s fifty day simple moving average is $14.91 and its 200 day simple moving average is $15.44. The company has a market cap of $87.34 million, a price-to-earnings ratio of 12.23 and a beta of 1.27.

FONAR (NASDAQ:FONR) last posted its quarterly earnings results on Wednesday, February 19th. The medical equipment provider reported $0.29 earnings per share for the quarter. FONAR had a net margin of 7.68% and a return on equity of 4.94%. The firm had revenue of $24.95 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FONR. JPMorgan Chase & Co. boosted its stake in FONAR by 148.3% during the third quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock worth $49,000 after buying an additional 1,799 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of FONAR by 5.1% in the fourth quarter. Empowered Funds LLC now owns 19,635 shares of the medical equipment provider’s stock valued at $297,000 after purchasing an additional 945 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in shares of FONAR by 15.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider’s stock valued at $443,000 after purchasing an additional 3,837 shares during the period. Bridgeway Capital Management LLC increased its position in FONAR by 1.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 80,035 shares of the medical equipment provider’s stock worth $1,212,000 after purchasing an additional 945 shares during the last quarter. Finally, Truffle Hound Capital LLC purchased a new position in FONAR during the fourth quarter worth about $1,363,000. 50.64% of the stock is currently owned by institutional investors and hedge funds.

FONAR Company Profile

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.