FONAR Co. (NASDAQ:FONR) Short Interest Update

FONAR Co. (NASDAQ:FONR) was the recipient of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 13,100 shares, a drop of 25.1% from the February 13th total of 17,500 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 13,500 shares, the days-to-cover ratio is currently 1.0 days.

Hedge Funds Weigh In On FONAR

Large investors have recently modified their holdings of the company. Money Concepts Capital Corp boosted its position in shares of FONAR by 5.9% in the fourth quarter. Money Concepts Capital Corp now owns 401,577 shares of the medical equipment provider’s stock valued at $6,080,000 after acquiring an additional 22,245 shares during the period. JPMorgan Chase & Co. lifted 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 purchasing an additional 1,799 shares during the last quarter. Empowered Funds LLC lifted its position in FONAR by 5.1% during the fourth quarter. Empowered Funds LLC now owns 19,635 shares of the medical equipment provider’s stock valued at $297,000 after purchasing an additional 945 shares during the last quarter. Peapod Lane Capital LLC bought a new stake in FONAR during the fourth quarter valued at approximately $2,159,000. Finally, Linden Thomas Advisory Services LLC lifted its position in 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 purchasing an additional 3,837 shares during the last quarter. 50.64% of the stock is currently owned by institutional investors.

FONAR Stock Up 1.2 %

Shares of NASDAQ:FONR opened at $13.98 on Tuesday. The firm has a market capitalization of $86.72 million, a PE ratio of 12.16 and a beta of 1.27. FONAR has a twelve month low of $13.27 and a twelve month high of $22.39. The company has a 50-day moving average price of $15.16 and a two-hundred day moving average price of $15.62.

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

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.