FONAR (NASDAQ:FONR) Share Price Passes Above 200 Day Moving Average – What’s Next?

FONAR Co. (NASDAQ:FONR) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.05 and traded as high as $16.52. FONAR shares last traded at $16.20, with a volume of 11,476 shares.

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.

FONAR Trading Down 0.4 %

The business’s 50 day simple moving average is $15.47 and its 200 day simple moving average is $16.05. The firm has a market capitalization of $102.55 million, a PE ratio of 11.57 and a beta of 1.23.

FONAR (NASDAQ:FONR) last released its quarterly earnings results on Tuesday, November 12th. The medical equipment provider reported $0.46 EPS for the quarter. The company had revenue of $24.96 million during the quarter. FONAR had a return on equity of 6.10% and a net margin of 9.41%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FONR. JPMorgan Chase & Co. lifted its holdings in shares of FONAR by 148.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock worth $49,000 after acquiring an additional 1,799 shares during the last quarter. Empowered Funds LLC raised its position in FONAR by 5.1% in the 4th quarter. Empowered Funds LLC now owns 19,635 shares of the medical equipment provider’s stock worth $297,000 after purchasing an additional 945 shares during the period. Linden Thomas Advisory Services LLC lifted its stake 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 worth $443,000 after purchasing an additional 3,837 shares during the last quarter. Corsair Capital Management L.P. boosted its position in shares of 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 buying an additional 2,266 shares during the period. Finally, Inspire Advisors LLC grew its stake in shares of FONAR by 21.2% during the third quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock valued at $556,000 after buying an additional 5,998 shares during the last quarter. 50.64% of the stock is owned by hedge funds and other institutional investors.

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.