FONAR Co. (NASDAQ:FONR) Short Interest Down 25.1% in February

FONAR Co. (NASDAQ:FONR) saw a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 13,100 shares, a decrease of 25.1% from the February 13th total of 17,500 shares. Based on an average trading volume of 13,500 shares, the short-interest ratio is currently 1.0 days. Currently, 0.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On FONAR

Several hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased 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 worth $49,000 after purchasing an additional 1,799 shares during the last quarter. Empowered Funds LLC increased its position in 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. increased its position in 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 worth $453,000 after purchasing an additional 2,266 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of FONAR by 15.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider’s stock valued at $443,000 after acquiring an additional 3,837 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in shares of FONAR by 1.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 80,035 shares of the medical equipment provider’s stock valued at $1,212,000 after acquiring an additional 945 shares during the last quarter. 50.64% of the stock is owned by hedge funds and other institutional investors.

FONAR Stock Performance

Shares of NASDAQ:FONR traded up $0.16 during midday trading on Monday, hitting $13.98. The company’s stock had a trading volume of 6,528 shares, compared to its average volume of 16,898. The business’s 50 day simple moving average is $15.19 and its 200 day simple moving average is $15.64. The company has a market cap of $86.72 million, a P/E ratio of 12.16 and a beta of 1.27. FONAR has a 12-month low of $13.27 and a 12-month high of $22.39.

FONAR (NASDAQ:FONR) last posted its quarterly earnings results on Wednesday, February 19th. The medical equipment provider reported $0.29 earnings per share for the quarter. The firm had revenue of $24.95 million for the quarter. FONAR had a net margin of 7.68% and a return on equity of 4.94%.

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.