Short Interest in FONAR Co. (NASDAQ:FONR) Expands By 6.2%

FONAR Co. (NASDAQ:FONR) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 17,100 shares, an increase of 6.2% from the December 31st total of 16,100 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 16,600 shares, the short-interest ratio is presently 1.0 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Inspire Advisors LLC grew its holdings in shares of FONAR by 21.2% in the third quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock valued at $556,000 after purchasing an additional 5,998 shares in the last quarter. Empowered Funds LLC boosted its position in FONAR by 5.3% in the 3rd 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. Lakewood Asset Management LLC acquired a new position in shares of FONAR in the third quarter worth $173,000. Linden Thomas Advisory Services LLC increased its position in shares of FONAR by 15.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider’s stock worth $443,000 after acquiring an additional 3,837 shares during the period. Finally, Peapod Lane Capital LLC acquired a new stake in shares of FONAR in the fourth quarter valued at $2,159,000. 50.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

FONAR Stock Up 0.8 %

NASDAQ FONR opened at $15.66 on Wednesday. FONAR has a 52 week low of $14.05 and a 52 week high of $24.05. The firm has a market cap of $99.13 million, a PE ratio of 11.19 and a beta of 1.23. The business’s fifty day simple moving average is $15.50 and its 200-day simple moving average is $16.13.

FONAR (NASDAQ:FONR) last posted its earnings results on Tuesday, November 12th. The medical equipment provider reported $0.46 earnings per share (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%.

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.