StockNews.com Lowers FONAR (NASDAQ:FONR) to Buy

StockNews.com cut shares of FONAR (NASDAQ:FONR) from a strong-buy rating to a buy rating in a research report report published on Tuesday.

FONAR Stock Performance

FONR stock opened at $15.77 on Tuesday. The company has a market capitalization of $99.82 million, a PE ratio of 10.11 and a beta of 1.21. FONAR has a one year low of $12.13 and a one year high of $24.05. The company’s 50 day moving average price is $15.80 and its two-hundred day moving average price is $18.85.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Denali Advisors LLC increased its stake in shares of FONAR by 20.1% in the first quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock worth $344,000 after buying an additional 2,700 shares during the period. Empowered Funds LLC boosted 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 buying an additional 4,507 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of FONAR by 7.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 66,200 shares of the medical equipment provider’s stock valued at $1,414,000 after buying an additional 4,800 shares in the last quarter. Marquette Asset Management LLC bought a new position in FONAR in the 4th quarter worth about $168,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in FONAR by 38.9% in 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 in the last quarter. 50.64% of the stock is owned by hedge funds and other institutional investors.

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.