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

FONAR Co. (NASDAQ:FONR) saw a significant increase in short interest in December. As of December 31st, there was short interest totalling 17,100 shares, an increase 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 presently 1.0 days. Currently, 0.3% of the company’s stock are short sold.

Hedge Funds Weigh In On FONAR

Several hedge funds and other institutional investors have recently modified their holdings of FONR. JPMorgan Chase & Co. grew its position in FONAR by 148.3% during the 3rd 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 acquired a new stake in shares of FONAR during the third quarter worth $173,000. Empowered Funds LLC grew its holdings 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 valued at $303,000 after buying an additional 938 shares during the last quarter. Corsair Capital Management L.P. increased its position in shares of FONAR by 8.8% in the 3rd quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock valued at $453,000 after acquiring an additional 2,266 shares during the period. Finally, Inspire Advisors LLC increased its position in shares of FONAR by 21.2% in the 3rd quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock valued at $556,000 after acquiring an additional 5,998 shares during the period. 50.64% of the stock is owned by hedge funds and other institutional investors.

FONAR Stock Performance

FONAR stock opened at $15.22 on Tuesday. FONAR has a one year low of $14.05 and a one year high of $24.05. The stock 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 two-hundred day moving average of $16.22.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded FONAR from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 16th.

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.