FONAR Co. (NASDAQ:FONR) Short Interest Down 11.6% in November

FONAR Co. (NASDAQ:FONR) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 8,400 shares, a drop of 11.6% from the October 31st total of 9,500 shares. Based on an average daily volume of 19,000 shares, the short-interest ratio is presently 0.4 days. Currently, 0.1% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, StockNews.com cut FONAR from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 16th.

Institutional Investors Weigh In On FONAR

Institutional investors have recently added to or reduced their stakes in the stock. Lakewood Asset Management LLC acquired a new stake in shares of FONAR in the third quarter valued at about $173,000. Empowered Funds LLC lifted its stake in FONAR by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock valued at $303,000 after buying an additional 938 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in FONAR by 9.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 21,605 shares of the medical equipment provider’s stock worth $346,000 after buying an additional 1,900 shares during the last quarter. Corsair Capital Management L.P. increased its stake in FONAR by 8.8% during the 3rd quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock worth $453,000 after buying an additional 2,266 shares in the last quarter. Finally, Inspire Advisors LLC increased its stake in FONAR by 177.3% during the 2nd quarter. Inspire Advisors LLC now owns 28,344 shares of the medical equipment provider’s stock worth $454,000 after buying an additional 18,124 shares in the last quarter. Institutional investors and hedge funds own 50.64% of the company’s stock.

FONAR Stock Performance

Shares of FONR traded up $0.08 during trading hours on Friday, hitting $16.47. The stock had a trading volume of 4,665 shares, compared to its average volume of 25,625. The firm has a market capitalization of $104.26 million, a price-to-earnings ratio of 11.76 and a beta of 1.19. The firm has a 50-day moving average price of $15.78 and a 200 day moving average price of $16.24. FONAR has a fifty-two week low of $14.05 and a fifty-two week high of $24.05.

FONAR (NASDAQ:FONR) last released its quarterly earnings results on Friday, September 27th. The medical equipment provider reported $0.13 earnings per share for the quarter. FONAR had a return on equity of 6.10% and a net margin of 9.41%. The company had revenue of $25.94 million during the quarter.

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.