FONAR Co. (NASDAQ:FONR) Short Interest Up 45.0% in March

FONAR Co. (NASDAQ:FONR) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 19,000 shares, an increase of 45.0% from the February 28th total of 13,100 shares. Based on an average daily volume of 13,000 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.3% of the company’s stock are short sold.

Institutional Investors Weigh In On FONAR

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of FONAR by 148.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock worth $49,000 after buying an additional 1,799 shares during the last quarter. Empowered Funds LLC boosted its position in FONAR by 5.1% in the fourth quarter. Empowered Funds LLC now owns 19,635 shares of the medical equipment provider’s stock worth $297,000 after purchasing an additional 945 shares during the last quarter. Linden Thomas Advisory Services LLC grew its stake in FONAR by 15.1% in the 4th 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 period. Bridgeway Capital Management LLC grew its stake in FONAR by 1.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 80,035 shares of the medical equipment provider’s stock valued at $1,212,000 after purchasing an additional 945 shares during the period. Finally, Truffle Hound Capital LLC purchased a new stake in shares of FONAR during the 4th quarter valued at $1,363,000. 50.64% of the stock is owned by institutional investors.

FONAR Price Performance

Shares of FONR stock traded down $0.24 during trading hours on Friday, reaching $13.90. The company had a trading volume of 7,505 shares, compared to its average volume of 16,556. The company has a market cap of $86.22 million, a price-to-earnings 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 business has a fifty day simple moving average of $14.91 and a 200-day simple moving average of $15.45.

FONAR (NASDAQ:FONR) last posted its quarterly earnings data 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 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.