FONAR Co. (NASDAQ:FONR) Sees Large Increase in Short Interest

FONAR Co. (NASDAQ:FONR) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 19,000 shares, a growth of 45.0% from the February 28th total of 13,100 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 13,000 shares, the short-interest ratio is currently 1.5 days.

Hedge Funds Weigh In On FONAR

Several institutional investors and hedge funds have recently modified their holdings of FONR. Money Concepts Capital Corp lifted its stake in FONAR by 5.9% in the fourth quarter. Money Concepts Capital Corp now owns 401,577 shares of the medical equipment provider’s stock valued at $6,080,000 after buying an additional 22,245 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FONAR by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 376,678 shares of the medical equipment provider’s stock worth $5,703,000 after acquiring an additional 2,149 shares during the period. Peapod Lane Capital LLC bought a new stake in FONAR in the 4th quarter valued at $2,159,000. Truffle Hound Capital LLC acquired a new position in FONAR in the 4th quarter worth $1,363,000. Finally, Bridgeway Capital Management LLC increased its holdings in FONAR by 1.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 80,035 shares of the medical equipment provider’s stock worth $1,212,000 after purchasing an additional 945 shares in the last quarter. 50.64% of the stock is currently owned by institutional investors and hedge funds.

FONAR Stock Up 0.2 %

Shares of FONR traded up $0.03 during trading hours on Tuesday, reaching $14.04. The stock had a trading volume of 372 shares, compared to its average volume of 16,456. The company has a market cap of $87.09 million, a P/E ratio of 12.21 and a beta of 1.27. FONAR has a 52 week low of $13.27 and a 52 week high of $21.25. The firm has a 50-day moving average of $14.89 and a 200 day moving average of $15.42.

FONAR (NASDAQ:FONR) last posted its earnings results on Wednesday, February 19th. The medical equipment provider reported $0.29 earnings per share (EPS) for the quarter. The firm had revenue of $24.95 million during the quarter. FONAR had a return on equity of 4.94% and a net margin of 7.68%.

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.