Short Interest in FONAR Co. (NASDAQ:FONR) Expands By 20.1%

FONAR Co. (NASDAQ:FONR) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 16,100 shares, a growth of 20.1% from the November 30th total of 13,400 shares. Based on an average trading volume of 19,100 shares, the short-interest ratio is currently 0.8 days. Currently, 0.3% of the company’s stock are sold short.

Hedge Funds Weigh In On FONAR

Several hedge funds and other institutional investors have recently bought and sold shares of FONR. Acuitas Investments LLC lifted its holdings in shares of FONAR by 142.1% in the 2nd 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 period. Inspire Advisors LLC raised its position in FONAR by 177.3% during the second quarter. Inspire Advisors LLC now owns 28,344 shares of the medical equipment provider’s stock valued at $454,000 after acquiring an additional 18,124 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in FONAR by 11.5% in the second quarter. Renaissance Technologies LLC now owns 344,216 shares of the medical equipment provider’s stock valued at $5,507,000 after acquiring an additional 35,375 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in FONAR by 1.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 609,789 shares of the medical equipment provider’s stock worth $9,757,000 after purchasing an additional 7,645 shares in the last quarter. Finally, Lakewood Asset Management LLC acquired a new stake in shares of FONAR during the 3rd quarter worth approximately $173,000. Institutional investors and hedge funds own 50.64% of the company’s stock.

Analyst Upgrades and Downgrades

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 Stock Performance

Shares of NASDAQ FONR traded down $0.35 during mid-day trading on Friday, hitting $14.95. The stock had a trading volume of 21,270 shares, compared to its average volume of 17,997. The firm has a market cap of $94.60 million, a PE ratio of 10.68 and a beta of 1.21. The company has a 50 day moving average of $15.50 and a two-hundred day moving average of $16.26. FONAR has a twelve month low of $14.05 and a twelve month high of $24.05.

FONAR (NASDAQ:FONR) last announced its quarterly earnings data on Friday, September 27th. The medical equipment provider reported $0.13 earnings per share (EPS) for the quarter. FONAR had a return on equity of 6.10% and a net margin of 9.41%. The firm had revenue of $25.94 million during the quarter.

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.