StockNews.com Downgrades FONAR (NASDAQ:FONR) to Buy

FONAR (NASDAQ:FONR) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

FONAR Trading Down 0.9 %

Shares of NASDAQ FONR opened at $17.40 on Tuesday. The stock has a market capitalization of $110.11 million, a PE ratio of 11.15 and a beta of 1.19. FONAR has a 12-month low of $12.13 and a 12-month high of $24.05. The stock’s fifty day simple moving average is $17.24 and its two-hundred day simple moving average is $17.47.

Hedge Funds Weigh In On FONAR

Large investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. purchased a new stake in shares of FONAR during the 4th quarter valued at $1,201,000. Acuitas Investments LLC raised its stake in FONAR by 142.1% in the second quarter. Acuitas Investments LLC now owns 113,400 shares of the medical equipment provider’s stock valued at $1,814,000 after buying an additional 66,563 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings 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 in the last quarter. Denali Advisors LLC grew its stake in shares of FONAR by 20.1% during the first quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock worth $344,000 after acquiring an additional 2,700 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings 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 acquiring an additional 4,507 shares in the last quarter. 50.64% of the stock is currently owned by institutional investors.

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.