FONAR Co. (NASDAQ:FONR) Short Interest Update

FONAR Co. (NASDAQ:FONR – Get Rating) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totalling 29,800 shares, an increase of 21.1% from the April 15th total of 24,600 shares. Based on an average trading volume of 20,500 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.5% of the company’s stock are sold short.

NASDAQ FONR traded down $0.77 during trading on Wednesday, hitting $15.76. The company’s stock had a trading volume of 19,988 shares, compared to its average volume of 13,414. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.13 and a quick ratio of 7.98. FONAR has a fifty-two week low of $14.24 and a fifty-two week high of $19.32. The business’s 50 day simple moving average is $18.04 and its 200-day simple moving average is $16.86.

FONAR (NASDAQ:FONR – Get Rating) last released its earnings results on Tuesday, February 15th. The medical equipment provider reported $0.57 EPS for the quarter. The firm had revenue of $24.48 million during the quarter. FONAR had a return on equity of 9.95% and a net margin of 12.77%.

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp increased its position in shares of FONAR by 9.6% during the first quarter. State Street Corp now owns 19,354 shares of the medical equipment provider’s stock worth $359,000 after purchasing an additional 1,696 shares in the last quarter. UBS Group AG increased its position in shares of FONAR by 53,600.0% during the first quarter. UBS Group AG now owns 2,148 shares of the medical equipment provider’s stock valued at $40,000 after acquiring an additional 2,144 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of FONAR by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 376,486 shares of the medical equipment provider’s stock valued at $6,984,000 after acquiring an additional 11,745 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of FONAR by 99.1% in the first quarter. Acadian Asset Management LLC now owns 14,018 shares of the medical equipment provider’s stock valued at $258,000 after purchasing an additional 6,978 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of FONAR by 27.9% in the first quarter. American Century Companies Inc. now owns 23,960 shares of the medical equipment provider’s stock valued at $444,000 after purchasing an additional 5,232 shares in the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Several equities research analysts have weighed in on the company. TheStreet raised FONAR from a “c” rating to a “b-” rating in a report on Wednesday, March 9th. StockNews.com assumed coverage on FONAR in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company.

FONAR Company Profile (Get Rating)

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 through two segments, Medical Equipment segment, and Physician Management and Diagnostic services segment.

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