Short Interest in FONAR Co. (NASDAQ:FONR) Expands By 6.2%

FONAR Co. (NASDAQ:FONRGet Free Report) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 17,100 shares, a growth of 6.2% from the December 15th total of 16,100 shares. Based on an average trading volume of 16,600 shares, the short-interest ratio is currently 1.0 days. Currently, 0.3% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of FONAR from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 16th.

Check Out Our Latest Research Report on FONAR

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in FONAR by 148.3% in the third quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock worth $49,000 after purchasing an additional 1,799 shares during the last quarter. Lakewood Asset Management LLC purchased a new stake in FONAR in the third quarter worth $173,000. Empowered Funds LLC lifted its position in shares of FONAR by 5.3% during the third quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock worth $303,000 after purchasing an additional 938 shares during the last quarter. Corsair Capital Management L.P. boosted its stake in shares of FONAR by 8.8% during the third quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock valued at $453,000 after purchasing an additional 2,266 shares during the period. Finally, Inspire Advisors LLC increased its stake in FONAR by 21.2% in the 3rd quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock worth $556,000 after buying an additional 5,998 shares during the period. 50.64% of the stock is currently owned by institutional investors.

FONAR Trading Down 0.4 %

Shares of FONAR stock opened at $15.22 on Tuesday. The firm has a market cap of $96.34 million, a PE ratio of 10.87 and a beta of 1.22. The stock has a 50 day moving average of $15.48 and a 200 day moving average of $16.22. FONAR has a 12 month low of $14.05 and a 12 month high of $24.05.

About FONAR

(Get Free Report)

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.

Further Reading

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