FONAR Co. (NASDAQ:FONR) Short Interest Up 6.2% in January

FONAR Co. (NASDAQ:FONR) saw a significant growth in short interest in January. As of January 15th, there was short interest totalling 17,100 shares, a growth of 6.2% from the December 31st total of 16,100 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average trading volume of 16,600 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Investors Weigh In On FONAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Money Concepts Capital Corp increased its holdings 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. Peapod Lane Capital LLC bought a new position in shares of FONAR in the 4th quarter valued at about $2,159,000. Inspire Advisors LLC increased its stake in shares of FONAR by 21.2% during the 3rd quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock worth $556,000 after purchasing an additional 5,998 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of FONAR by 15.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider’s stock valued at $443,000 after purchasing an additional 3,837 shares during the period. Finally, Corsair Capital Management L.P. lifted its stake in FONAR by 8.8% in the 3rd quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock valued at $453,000 after purchasing an additional 2,266 shares during the last quarter. 50.64% of the stock is currently owned by institutional investors and hedge funds.

FONAR Trading Down 0.5 %

FONR stock opened at $15.75 on Monday. The stock has a market cap of $99.70 million, a PE ratio of 11.25 and a beta of 1.22. The stock has a 50-day moving average price of $15.53 and a two-hundred day moving average price of $16.17. FONAR has a 1 year low of $14.05 and a 1 year high of $24.05.

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

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of FONAR from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 16th.

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.