FONAR Co. (NASDAQ:FONR) Short Interest Up 174.5% in June

FONAR Co. (NASDAQ:FONR) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 12,900 shares, a growth of 174.5% from the June 15th total of 4,700 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 22,100 shares, the days-to-cover ratio is currently 0.6 days.

FONAR Trading Up 1.8 %

NASDAQ:FONR traded up $0.29 during trading hours on Friday, reaching $16.64. 19,146 shares of the company traded hands, compared to its average volume of 20,115. The business’s 50-day moving average price is $15.78 and its two-hundred day moving average price is $18.56. FONAR has a 1 year low of $12.13 and a 1 year high of $24.05. The stock has a market capitalization of $105.33 million, a P/E ratio of 10.48 and a beta of 1.19.

FONAR (NASDAQ:FONR) last announced its quarterly earnings results on Wednesday, May 15th. The medical equipment provider reported $0.27 earnings per share (EPS) for the quarter. The company had revenue of $25.72 million for the quarter. FONAR had a net margin of 10.66% and a return on equity of 7.50%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of FONAR from a “buy” rating to a “strong-buy” rating in a report on Wednesday.

Hedge Funds Weigh In On FONAR

Hedge funds have recently added to or reduced their stakes in the company. Acuitas Investments LLC bought a new position in shares of FONAR during the fourth quarter valued at $4,277,000. Hillsdale Investment Management Inc. bought a new position in FONAR during the 4th quarter valued at about $1,201,000. Carmel Capital Partners LLC boosted its holdings in shares of FONAR by 725.1% during the 4th quarter. Carmel Capital Partners LLC now owns 12,088 shares of the medical equipment provider’s stock valued at $236,000 after acquiring an additional 10,623 shares during the last quarter. Denali Advisors LLC boosted its holdings in shares of FONAR by 20.1% during the 1st quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock valued at $344,000 after acquiring an additional 2,700 shares during the last quarter. Finally, Marquette Asset Management LLC bought a new stake in shares of FONAR in the fourth quarter worth approximately $168,000. 50.64% of the stock is currently 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.