Short Interest in FONAR Co. (NASDAQ:FONR) Expands By 45.0%

FONAR Co. (NASDAQ:FONR) saw a large growth in short interest in 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 shares of the stock are short sold. Based on an average daily trading volume, of 13,000 shares, the short-interest ratio is currently 1.5 days.

FONAR Price Performance

Shares of FONR stock traded down $0.24 on Friday, hitting $13.90. 7,505 shares of the company’s stock were exchanged, compared to its average volume of 16,556. The stock has a market cap of $86.22 million, a P/E ratio of 12.09 and a beta of 1.27. FONAR has a 12 month low of $13.27 and a 12 month high of $21.25. The company has a 50 day moving average of $14.91 and a 200 day moving average of $15.45.

FONAR (NASDAQ:FONR) last announced its quarterly 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 net margin of 7.68% and a return on equity of 4.94%.

Institutional Trading of FONAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Money Concepts Capital Corp boosted its stake in shares of FONAR by 5.9% in the 4th quarter. Money Concepts Capital Corp now owns 401,577 shares of the medical equipment provider’s stock valued at $6,080,000 after purchasing an additional 22,245 shares during the last quarter. JPMorgan Chase & Co. boosted its position in FONAR by 148.3% during the third quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock valued at $49,000 after acquiring an additional 1,799 shares during the last quarter. Empowered Funds LLC grew its holdings in FONAR by 5.1% during the 4th quarter. Empowered Funds LLC now owns 19,635 shares of the medical equipment provider’s stock worth $297,000 after acquiring an additional 945 shares during the period. Truffle Hound Capital LLC bought a new position in shares of FONAR in the 4th quarter worth about $1,363,000. Finally, Peapod Lane Capital LLC acquired a new position in shares of FONAR in the 4th quarter valued at about $2,159,000. 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.