FONAR Co. (NASDAQ:FONR) Short Interest Up 239.2% in May

FONAR Co. (NASDAQ:FONR - Get Free Report) was the recipient of a large growth in short interest in 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. Based on an average daily volume of 22,200 shares, the short-interest ratio is currently 1.2 days. Approximately 0.4% of the shares of the company are sold short.

FONAR Stock Up 0.3%

FONR stock traded up $0.05 during trading on Friday, reaching $14.55. The company's stock had a trading volume of 5,141 shares, compared to its average volume of 16,920. FONAR has a 1 year low of $12.00 and a 1 year high of $18.68. The company has a market capitalization of $90.25 million, a P/E ratio of 12.65 and a beta of 0.99. The company's fifty day moving average is $13.13 and its 200-day moving average is $14.34.

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

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded FONAR from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 19th.

Institutional Investors Weigh In On FONAR

A number of institutional investors have recently bought and sold shares of FONR. Empowered Funds LLC boosted its stake 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 buying an additional 945 shares during the last quarter. Peapod Lane Capital LLC purchased a new position in shares of FONAR in the fourth quarter valued at $2,159,000. Truffle Hound Capital LLC purchased a new position in shares of FONAR in the fourth quarter valued at $1,363,000. Dimensional Fund Advisors LP grew its holdings in shares of FONAR by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 376,678 shares of the medical equipment provider's stock valued at $5,703,000 after purchasing an additional 2,149 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of FONAR by 1.2% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 50.64% of the company's stock.

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.