Short Interest in FONAR Co. (NASDAQ:FONR) Drops By 25.1%

FONAR Co. (NASDAQ:FONR) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 13,100 shares, a decline of 25.1% from the February 13th total of 17,500 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average trading volume of 13,500 shares, the short-interest ratio is presently 1.0 days.

FONAR Price Performance

FONR opened at $13.82 on Friday. FONAR has a fifty-two week low of $13.27 and a fifty-two week high of $22.39. The company’s 50 day moving average price is $15.19 and its two-hundred day moving average price is $15.65. The firm has a market capitalization of $85.73 million, a price-to-earnings ratio of 12.02 and a beta of 1.27.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On FONAR

Several institutional investors and hedge funds have recently made changes to their positions in FONR. Peapod Lane Capital LLC acquired a new stake in FONAR during the 4th quarter valued at approximately $2,159,000. Truffle Hound Capital LLC acquired a new stake in shares of FONAR during the fourth quarter worth $1,363,000. Money Concepts Capital Corp raised its stake in FONAR by 5.9% during the fourth quarter. Money Concepts Capital Corp now owns 401,577 shares of the medical equipment provider’s stock worth $6,080,000 after buying an additional 22,245 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in 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 buying an additional 3,837 shares during the period. Finally, Corsair Capital Management L.P. boosted its position in FONAR by 8.8% during the third quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock valued at $453,000 after acquiring an additional 2,266 shares during the last quarter. Institutional investors and hedge funds 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.