FONAR (NASDAQ:FONR) Downgraded to “Buy” at StockNews.com

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

FONAR Trading Up 2.2 %

NASDAQ:FONR traded up $0.37 during mid-day trading on Tuesday, hitting $17.55. The stock had a trading volume of 39,108 shares, compared to its average volume of 17,824. FONAR has a twelve month low of $12.13 and a twelve month high of $24.05. The company has a market capitalization of $111.06 million, a PE ratio of 11.25 and a beta of 1.19. The stock has a 50-day simple moving average of $17.22 and a two-hundred day simple moving average of $17.47.

Institutional Trading of FONAR

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hillsdale Investment Management Inc. purchased a new position in shares of FONAR during the 4th quarter valued at approximately $1,201,000. Denali Advisors LLC grew its holdings in shares of FONAR by 20.1% during the 1st quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock valued at $344,000 after acquiring an additional 2,700 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of FONAR by 37.6% during the 1st quarter. Empowered Funds LLC now owns 16,492 shares of the medical equipment provider’s stock valued at $352,000 after purchasing an additional 4,507 shares in the last quarter. Inspire Advisors LLC acquired a new stake in FONAR in the 1st quarter worth approximately $218,000. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of FONAR by 38.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 32,978 shares of the medical equipment provider’s stock worth $704,000 after purchasing an additional 9,237 shares during the last quarter. 50.64% of the stock is owned by hedge funds and other 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.