FONAR (NASDAQ:FONR) Shares Cross Below Two Hundred Day Moving Average of $18.09

FONAR Co. (NASDAQ:FONR)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.09 and traded as low as $17.27. FONAR shares last traded at $17.35, with a volume of 14,757 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of FONAR from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th.

FONAR Stock Up 0.6 %

The firm’s 50 day moving average is $16.87 and its 200-day moving average is $18.09. The firm has a market cap of $109.79 million, a PE ratio of 11.12 and a beta of 1.19.

Institutional Investors Weigh In On FONAR

Several hedge funds have recently made changes to their positions in FONR. Inspire Advisors LLC acquired a new position in shares of FONAR in the 1st quarter valued at about $218,000. Denali Advisors LLC grew its stake in FONAR by 20.1% during 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 increased its position in shares of FONAR by 37.6% in the first quarter. Empowered Funds LLC now owns 16,492 shares of the medical equipment provider’s stock worth $352,000 after acquiring an additional 4,507 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of FONAR by 9.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 21,605 shares of the medical equipment provider’s stock valued at $346,000 after acquiring an additional 1,900 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings 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 valued at $704,000 after acquiring an additional 9,237 shares in the last quarter. Institutional investors and hedge funds own 50.64% of the company’s stock.

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.