StockNews.com cut shares of FONAR (NASDAQ:FONR – Free Report) from a strong-buy rating to a buy rating in a research report report published on Tuesday.
FONAR Stock Performance
Shares of FONR stock opened at $17.40 on Tuesday. The company has a market capitalization of $110.11 million, a P/E ratio of 11.15 and a beta of 1.19. FONAR has a fifty-two week low of $12.13 and a fifty-two week high of $24.05. The stock has a 50 day moving average price of $17.26 and a two-hundred day moving average price of $17.47.
Hedge Funds Weigh In On FONAR
Hedge funds have recently modified their holdings of the company. Hillsdale Investment Management Inc. purchased a new position in FONAR during the 4th quarter valued at about $1,201,000. Denali Advisors LLC grew its position in shares of FONAR by 20.1% in the 1st quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock worth $344,000 after buying an additional 2,700 shares during the last quarter. Empowered Funds LLC increased its stake in shares of FONAR by 37.6% during the first quarter. Empowered Funds LLC now owns 16,492 shares of the medical equipment provider’s stock valued at $352,000 after buying an additional 4,507 shares during the period. Inspire Advisors LLC bought a new position in shares of FONAR during the first quarter valued at approximately $218,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in FONAR by 38.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 32,978 shares of the medical equipment provider’s stock worth $704,000 after acquiring an additional 9,237 shares during the period. Hedge funds and other institutional investors 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.
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