FONAR (NASDAQ:FONR) Upgraded at StockNews.com

StockNews.com upgraded shares of FONAR (NASDAQ:FONR) from a buy rating to a strong-buy rating in a research report released on Monday.

FONAR Trading Down 0.1 %

Shares of FONR opened at $15.84 on Monday. The company’s 50 day simple moving average is $17.18 and its 200-day simple moving average is $17.09. The firm has a market cap of $100.24 million, a PE ratio of 10.16 and a beta of 1.19. FONAR has a 12-month low of $12.13 and a 12-month high of $24.05.

Institutional Investors Weigh In On FONAR

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC increased its position in FONAR by 1.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 609,789 shares of the medical equipment provider’s stock valued at $9,757,000 after acquiring an additional 7,645 shares during the period. Renaissance Technologies LLC raised its stake in shares of FONAR by 11.5% during the second quarter. Renaissance Technologies LLC now owns 344,216 shares of the medical equipment provider’s stock worth $5,507,000 after purchasing an additional 35,375 shares during the last quarter. Acuitas Investments LLC lifted its holdings in shares of FONAR by 142.1% during the second quarter. Acuitas Investments LLC now owns 113,400 shares of the medical equipment provider’s stock worth $1,814,000 after purchasing an additional 66,563 shares during the period. Hillsdale Investment Management Inc. grew its position in FONAR by 7.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 66,200 shares of the medical equipment provider’s stock valued at $1,414,000 after buying an additional 4,800 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in FONAR by 38.9% in 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 buying an additional 9,237 shares during the last quarter. 50.64% of the stock is owned by hedge funds and other institutional investors.

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.