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

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

FONAR Stock Performance

FONAR stock traded down $0.06 during trading hours on Monday, hitting $15.22. The company had a trading volume of 17,352 shares, compared to its average volume of 9,350. The firm has a market cap of $96.34 million, a P/E ratio of 10.87 and a beta of 1.22. The company has a 50-day moving average price of $15.48 and a two-hundred day moving average price of $16.23. FONAR has a 1 year low of $14.05 and a 1 year high of $24.05.

Analyst Ratings Changes

Separately, StockNews.com downgraded FONAR from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 16th.

Institutional Trading of FONAR

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in FONAR by 148.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock worth $49,000 after purchasing an additional 1,799 shares during the period. Lakewood Asset Management LLC bought a new position in shares of FONAR during the 3rd quarter worth $173,000. Empowered Funds LLC increased its stake in shares of FONAR by 5.3% during the third quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock valued at $303,000 after buying an additional 938 shares during the period. Corsair Capital Management L.P. raised its holdings in shares of FONAR by 8.8% in 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 acquiring an additional 2,266 shares in the last quarter. Finally, Inspire Advisors LLC lifted its stake in FONAR by 21.2% in the third quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock worth $556,000 after acquiring an additional 5,998 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.