FONAR Co. (NASDAQ:FONR) Short Interest Update

FONAR Co. (NASDAQ:FONR - Get Free Report) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 26,800 shares, a growth of 239.2% from the May 15th total of 7,900 shares. Approximately 0.4% of the company's stock are short sold. Based on an average daily volume of 22,200 shares, the short-interest ratio is currently 1.2 days.

FONAR Trading Down 0.1%

NASDAQ FONR traded down $0.01 on Thursday, hitting $14.50. 28,499 shares of the stock traded hands, compared to its average volume of 16,992. FONAR has a twelve month low of $12.00 and a twelve month high of $18.68. The stock has a 50-day moving average of $13.09 and a 200 day moving average of $14.38. The company has a market capitalization of $89.94 million, a P/E ratio of 12.61 and a beta of 0.99.

FONAR (NASDAQ:FONR - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The medical equipment provider reported $0.37 earnings per share for the quarter. FONAR had a net margin of 7.68% and a return on equity of 4.94%.

Institutional Trading of FONAR

Large investors have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its stake in FONAR by 5.1% in 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 in the last quarter. Peapod Lane Capital LLC bought a new stake in FONAR in the 4th quarter valued at $2,159,000. Truffle Hound Capital LLC bought a new position in FONAR during the fourth quarter valued at about $1,363,000. Dimensional Fund Advisors LP raised its stake in shares of FONAR by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 376,678 shares of the medical equipment provider's stock valued at $5,703,000 after buying an additional 2,149 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in FONAR by 1.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 80,035 shares of the medical equipment provider's stock worth $1,212,000 after purchasing an additional 945 shares in the last quarter. 50.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of FONAR from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 19th.

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.